Ed Tech company expresses disappointment with
flawed ruling and will continue to pursue justice.
CHANDLER, Ariz., June 10,
2022 /PRNewswire/ -- (Nasdaq: ZVO) Zovio, an
education technology services company that partners with higher
education institutions and employers, announced today it has filed
a notice of appeal of the March 2022
decision of the Superior Court of the State of California, County of San Diego awarding statutory penalties in
favor of the California Attorney
General.
Zovio is appealing because it believes the trial court's
decision is flawed and the penalties ordered by the court are
excessive. The court's assessed penalty amounts were based on a
questionable statistical extrapolation of a scant 126 phone calls
from millions of calls that were made. The court also failed to
make any findings on Zovio's net worth, and we believe the
penalties awarded are grossly disproportionate and excessive under
both statutory and constitutional standards.
"While we work to ensure the truth about our record is brought
to light, Zovio continues to move forward with our plans to
turnaround the company and maintain our focus on serving our
clients and their students," said Vickie Schray, Zovio's Chief External Affairs
Officer.
About Zovio
Zovio (Nasdaq: ZVO) is an education technology services company
that partners with higher education institutions and employers to
deliver innovative, personalized solutions to help learners and
leaders achieve their aspirations. The Zovio network, including
Fullstack Academy, leverages its core strengths to solve priority
market needs through education technology services. Using
proprietary advanced data analytics, Zovio identifies the most
meaningful ways to enhance the learner experience and deliver
strong outcomes for higher education institutions, employers, and
learners. Zovio's purpose is to help everyone be in a class of
their own. For more information, visit www.zovio.com.
Contact: Vickie Schray
vickie.schray@zovio.com
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SOURCE Zovio
