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ITT delays financial statements amid student-loan probe

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Carmel-based ITT Educational Inc., an operator of for-profit colleges, said it’s unable to file its 2013 annual report because of a probe into its accounting practices.

A Securities and Exchange Commission investigation into ITT Educational’s treatment of a student-loan program will cause a delay, the company said Tuesday in a regulatory filing. ITT had expected to file the annual report by March 3.

The Consumer Financial Protection Bureau sued ITT Educational last month over claims the company engaged in predatory lending.

ITT stock was up 1.9 percent Tuesday afternoon, to $31.49 per share.
 

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