Corinthian Announces Settlement of Shareholder Lawsuit on Derivatives

Corinthian Colleges, Inc., one of the country's largest providers of for-profit higher education, announced Monday that it had settled a lawsuit in which stockholders accused the company of having backdated the price of options. The company agreed to a set of changes in its governance and other practices and to pay $2.5 million in legal fees to the plaintiffs in the case, but did not acknowledge any wrongdoing.