Washington Post 2011 Annual Report Download - page 53

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On August 5, 2010, Kaplan Higher Education Corporation, along with at least 28 other proprietary education
organizations, received a letter of inquiry from the HELP Committee. As part of a general congressional review of the
distribution of U.S. Federal financial aid for students, the letter requested information and correspondence relating to the
online and on-campus schools operated by KHE. The requested information was provided to the HELP Committee. At this
time, Kaplan cannot predict the ultimate impact the investigation may have on its business.
On October 21, 2010, Kaplan Higher Education Corporation received a subpoena from the office of the Florida
Attorney General. The subpoena sought information pertaining to the online and on-campus schools operated by KHE in
and outside of Florida. KHE has cooperated with the Florida Attorney General and provided the information requested in
the subpoena. KHE also may receive further requests for information from the Florida Attorney General. The Company
cannot predict the outcome of this inquiry.
On December 21, 2010, the U.S. Equal Employment Opportunities Commission filed suit against Kaplan Higher
Education Corporation in the U.S. District Court for the Northern District of Ohio, alleging racial bias by Kaplan in
requesting credit scores of job applicants seeking financial positions. The Company believes that the complaint lacks
merit. In March 2011, the court granted in part the Company’s motion to dismiss the complaint. Since that time, the case
is proceeding with the discovery phase.
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
online students who are residents of Illinois. KHE has cooperated with the Illinois Attorney General and provided the
requested information. KHE also may receive further requests for information from the Illinois Attorney General. 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. KHE also may receive further requests for information from the Massachusetts Attorney General.
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 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. KHE also may receive further requests for information from the
Delaware Attorney General. 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 or financial condition.
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 “WPO.” 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 during the last two years were:
2011 2010
Quarter High Low High Low
January–March ..................................... $456 $402 $459 $404
April–June ......................................... 454 404 547 409
July–September ..................................... 430 310 448 296
October–December ................................. 394 309 446 367
2011 FORM 10-K 41