One of the nation's largest for-profit school chains has removed itself from the stock market following a tumultuous year of lawsuits and regulatory battles. Education Management Corporation (EDMC) announced plans to drop its registration with the Securities Exchange Commission and its listing on NASDAQ. EDMC has operated for-profit schools across the country, including The Art Institutes, Argosy University, Brown Mackie Colleges, and South University. At the time of the announcement, EDMC stock was trading for less than $1 per share. In recent years during a period of increased regulation by the Obama Administration, EDMC's schools have suffered substantial enrollment declines. In addition, EDMC is being sued by the United States Justice Department for alleged violations of the federal False Claims Act. EDMC's de-listing was reported in Inside Higher Ed.
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