Usually when federal regulators file a complaint against a major company, it is accompanied by a settlement in one neat little package. But that didn’t happen Tuesday when ITT Educational Services Inc. (ITT) and two top executives were slammed with 15 fraud-related counts involving its student loan programs.
An irate ITT punched right back, saying in a statement that it “vehemently” disagreed with the U.S. Securities and Exchange Commission and calling the case “unfair,” “misguided” and “inappropriate.” It said it was “a financially responsible company, committed to dedicating the necessary resources to our defense.”
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