January 31, 2020

ITT Tech Directors Get Away With It, But Modany Still Faces Claims

An Indiana federal judge has let the directors of collapsed, disgraced for-profit college ITT Tech off the hook, rejecting claims from the company’s bankruptcy trustee that the board’s failure to fire CEO Kevin Modany breached their fiduciary duties. But U.S. District Court Judge James Patrick Hanlon rejected Modany’s own effort to escape liability, ruling that
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September 3, 2019

Ex-Rep. Vin Weber Quits Lobby Firm over Ukraine; Still Faces ITT Tech Suit

Former congressman Vin Weber (R-MN) has quit his lobbying job at Mercury Public Affairs, saying the ongoing Ukraine influence-peddling probe, which has been examining the lobby work Weber did for Ukrainian interests, “has become a distraction” and he will “focus my time and energy on protecting my reputation.” That reputation, though, includes Weber’s long tenure
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June 13, 2018

ITT Tech CEO Is Sued For Serving Himself As Company Collapsed

Kevin Modany, the long-time CEO of the for-profit college chain ITT Tech, spent the months before the company’s collapse focused on increasing his financial take from the business and trying to preserve his reputation, rather than protecting ITT’s investors — let alone the interests of ITT students or of U.S. taxpayers, who have provided billions
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August 30, 2017

SEC Commissioners Rejected Settlement with ITT Tech CEO

  The U.S. Securities and Exchange Commission has rejected a proposed settlement of the SEC’s lawsuit against two former executives of the collapsed for-profit college company ITT Educational Services. In a court filing on August 11, SEC lawyers told the Court that “the Commission will not approve the proposed settlements” with former ITT CEO Kevin
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January 3, 2017

New Student Lawsuit Details ITT Tech Scam


Former students from across the country today filed a blockbuster lawsuit against the collapsed for-profit college giant ITT Tech. The students’ complaint, seeking to intervene in the ongoing bankruptcy proceeding filed by the company, draws on testimonials from hundreds of students — veterans, single mothers, and more — who say they were deceived and abused
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September 23, 2016

Devastating Reports: ITT Tech Killed Itself


Two new reports — one from a journalist, the other from an investment research firm — confirm in stark terms that former ITT Tech CEO Kevin Modany, his top lieutenants, and the company’s board of directors have only themselves to blame for the company’s collapse. ITT shut its campuses and declared bankruptcy after the U.S. Department
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September 8, 2016

ITT Tech Collapse: Radio Version


I’ve been on some radio shows this week to discuss the collapse of predatory ITT Tech, the fate of students, and the future of for-profit colleges. If you love talk radio, tune in: Background Briefing with Ian Masters, Sept. 6 The Agenda with Ari Rabin-Havt, SiriusXM Progress 127, Sept. 8 The Source, Texas Public Radio,
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September 6, 2016

Good Riddance: 6 Facts About Shut-Down ITT Tech


This morning, one of the nation’s biggest for-profit colleges, ITT Tech, announced that it has permanently shut down its academic operations and fired the “overwhelming majority” of its more than 8,000 employees. In a typically self-pitying, remorseless statement, the company blamed all its woes on the U.S. Department of Education, which, ITT claimed, acted with “a
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