The Obama administration and four states accuse Education Management Corp. (EDMC -11.2%) of...

|About: Education Management Corpor... (EDMC)|By:, SA News Editor

The Obama administration and four states accuse Education Management Corp. (EDMC -11.2%) of illegally paying recruiters to enroll students. The complaint says EDMC repeatedly made false statements to conceal its practices and receive $11B in federal and state financial aid - nearly all the company's revenue.