EVCI Career Colleges Holding Corp.

New York, NY: (May-22-07) A class action lawsuit was filed against EVCI Career Colleges Holding Corp., the Yonkers company that runs career colleges, alleging that the company misrepresented its business conditions, financial results and prospects. The lawsuit filed in December 2005 stated Geoffrey Glauser, a shareholder, as the lead plaintiff. In a settlement reached, EVCI Career Colleges Holding agreed to pay $7.73 million to resolve claims in the shareholder class action suit. Anyone who bought shares from Aug. 14, 2003, to Dec. 6, 2006, may be eligible to share in the proposed $7.73 million class-action settlement. A federal judge in US District Court in Manhattan must still approve the settlement and has scheduled a hearing for July 27, 2007. [PR NEWSWIRE: EVCI SHAREHOLDERS]

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