Education Management Corporation, which owns the second-largest chain of for-profit colleges, was forced to shell out $95.5 million in a settlement with federal and state authorities on Monday. The settlement draws a close to a case in which former employees alleged that recruiters were illegally paid based on how many students they got to enroll in the schools. Other for-profit institutions, including Corinthian Colleges, have been under federal investigation for shady activities in recent years.
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