Washington Post Co. defeats securities fraud claims involving Kaplan

, The National Law Journal


A federal judge in D.C. has dismissed a securities fraud lawsuit against the Washington Post Company, finding that the plaintiffs failed to sufficiently allege that executives intended to deceive the market about the financial health of for-profit education subsidiary Kaplan Inc.

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What's being said

  • ColorBlindJustice

    In hindsight, a cynic might see the Obama administration’s hue and cry about the supposedly evil ways of for-profit higher learning institutions through a political lens. By noisily targeting the for-profits in the latter half of 2010, the administration paved the way for no-injury lawsuits like this one in hopes, perhaps, of rewarding with lucrative settlements its generous allies among the plaintiffs' bar. While staying strangely silent about the similarly questionable marketing tactics of overly abundant law schools, the administration's bellicose bullying of for-profit colleges also likely pleased the labor unions that call the shots at not-for-profit colleges and universities but have been largely shut out by the for-profits. In any case, it's nice to see another of these orchestrated witch-hunt suits burn at the stake.

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