Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Universal Technical Institute Inc (NYSE: UTI) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Universal Technical Institute Inc (NYSE: UTI) concerning whether a series of statements by Universal Technical Institute Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On July 24, 2015, Universal Technical Institute reported it had received a subpoena from the U.S. Attorney's Office for the Western District of North Carolina. The subpoena was in relation to various matters about the Company's Mooresville, North Carolina campus operations over the past several years. The U.S. Attorney also seeks documents and information relating to the Company's compliance with the "90/10 rule," and other Company programs and practices.
After the release of this news NYSE: UTI shares declined $1.69 per share, or over 22%, to close on July 24, 2015 at $5.96 per share.
Based in Scottsdale, AZ and founded in 1965, Universal Technical Institute Inc is a provider of postsecondary education for the purpose of career development in the following categories; professional automotive, diesel, collision repair, motorcycle, and marine technicians in the United States. It offers undergraduate degree, diploma, and certificate programs through its campuses under various brands, including Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute, and NASCAR Technical Institute.
If you purchased shares of Universal Technical Institute Inc (NYSE: UTI) on or before July 24, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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