Lincoln Tech controversies

Securities class action against Lincoln Educational Services Corporation with investor counsel deadline

Lawsuit filed

A securities class action is pending against Lincoln Educational Services Corporation (ticker LINC). The Rosen Law Firm, identified as global investor counsel, is encouraging investors in the company to secure counsel before an important deadline in the case. The source does not state the allegations, the filing date, or the deadline date.

Stated objective. Encourage Lincoln Educational Services Corporation investors to secure counsel before the important deadline in the securities class action

Borrower-defense student-loan settlement

Lincoln Educational Services was included among schools named in a federal student-loan cancellation settlement involving allegations of substantial misconduct. The company challenged the settlement, but the Supreme Court rejected the challenge in 2023.

Massachusetts placement and recruiting allegations

Massachusetts authorities alleged that graduates of criminal-justice programs had difficulty finding work in their fields, that unrelated jobs were included in placement data, and that recruiters used high-pressure enrollment methods. Lincoln agreed to repay approximately $1 million to affected graduates.

Massachusetts attorney-general investigation

The Massachusetts attorney general announced an investigation into Lincoln’s for-profit schools in the state.

Loan-default and graduation-rate criticism

USA Today, using 2009–2010 data, identified one of the company’s campuses as a Red Flag school because its loan-default rate exceeded its graduation rate.

Investor securities lawsuit

Investors alleged that Lincoln Educational Services made materially false or misleading statements about its business and operations. The United States District Court for the District of New Jersey dismissed the case in September 2011.