Corinthian Colleges (COCO) Sued by Landlord for Late Rent at HQ

Corinthian Colleges (Nasdaq: COCO) was sued by its landlord for not paying rent at its corporate headquarters.

According to the LA Times, citing a lawsuit filed in Orange County Superior Court, COCO owed $381,000 in back rent on the property. The suit was filed last week and alleged that the landlord had been owed money since August 5th.

One rep for Corinthian said the company has since paid the rent in full and has sufficient financial resources to make this payment at all times. He said that the company and the landlord were in negotiations over rent when the suit was filed and the two sides now have an amicable and mutually satisfactory agreement that should bring the legal action to a conclusion.

Shares of Corinthian are flat in early trading Thursday.

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