Washington Post 2013 Annual Report Download - page 51

Kaplan Higher Education Corporation and against the EEOC, terminating the case in its entirety. The EEOC appealed
the judgment to the U.S. Court of Appeals for the Sixth Judicial Circuit, and briefing on that appeal was completed in
November 2013.
On February 7, 2011, Kaplan Higher Education Corporation received a Civil Investigative Demand from the Office of
the Attorney General of the State of Illinois. The demand primarily sought information pertaining to Kaplan University’s
online students who are residents of Illinois. KHE has cooperated with the Illinois Attorney General and provided the
requested information. Although KHE may receive further requests for information from the Illinois Attorney General, there
has been no such further correspondence to date. The Company cannot predict the outcome of this inquiry.
On April 30, 2011, Kaplan Higher Education Corporation received a Civil Investigative Demand from the Office of the
Attorney General of the State of Massachusetts. The demand primarily sought information pertaining to KHE Campuses’
students who are residents of Massachusetts. KHE has cooperated with the Massachusetts Attorney General and provided
the requested information, as well as additional information requested in 2012 and 2013. The Company cannot predict
the outcome of this inquiry.
On July 20, 2011, Kaplan Higher Education Corporation received a subpoena from the Office of the Attorney General
of the State of Delaware. The demand primarily sought information pertaining to Kaplan University’s online students and
KHE Campuses’ students who are residents of Delaware. KHE has cooperated with the Delaware Attorney General and
provided the information requested in the subpoena. Although KHE may receive further requests for information from the
Delaware Attorney General, there has been no such further correspondence to date. The Company cannot predict the
outcome of this inquiry.
The Company and its subsidiaries are also subject to complaints and administrative proceedings and are defendants in
various other civil lawsuits that have arisen in the ordinary course of their businesses, including contract disputes; actions
alleging negligence, libel, invasion of privacy; trademark, copyright and patent infringement; False Claims Act violations;
violations of applicable wage and hour laws; and statutory or common law claims involving current and former students
and employees. While it is not possible to predict the outcomes of these lawsuits, in the opinion of management, their
ultimate dispositions should not have a material adverse effect on the Company’s business, financial condition, results of
operations or cash flows.
Item 4. Mine Safety Disclosures.
Not applicable.
PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
Securities.
Market Information and Holders
The Company’s Class B Common Stock is traded on the New York Stock Exchange under the symbol “GHC.” The
Company’s Class A Common Stock is not publicly traded.
The high and low sales prices of the Company’s Class B Common Stock were:
2013 2012
Quarter High Low High Low
January–March ..................................... $456 $360 $405 $364
April–June ......................................... 493 428 391 328
July–September ..................................... 613 484 381 328
October–December ................................. 687 592 383 328
At January 31, 2014, there were 26 holders of record of the Company’s Class A Common Stock and 572 holders of
record of the Company’s Class B Common Stock.
Dividend Information
Both classes of the Company’s Common Stock participate equally as to dividends. In December 2012, the Company
declared and paid an accelerated cash dividend totaling $9.80 per share of outstanding common stock, in lieu of
regular quarterly dividends that the Company otherwise would have declared and paid in calendar year 2013.
Quarterly dividends were paid at the rate of $2.45 per share during 2012.
2013 FORM 10-K 33