Monday, July 21, 2003
The Federal Bureau of Investigation has ended a preliminary probe of allegations that the University of Phoenix stole trade secrets from its former placement-testing software provider, The Wall Street Journal reported on Monday.
If you're a subscriber to the WSJ, the fuller article is here.
Jan Caldwell, a special agent in the FBI's San Diego office, said no charges have been filed as a result of the investigation into the allegations by Chariot Software Group, a closely held San Diego company that built and maintained the university's online system for placement testing of newly enrolled students for several years. Chariot has told the FBI that the university administrators supplied high-level access passwords for its proprietary system to another vendor, which then imitated Chariot's system in a supposed redesign for the university.It can't be too good, as the stock lost 3% on a day when the market as a whole lost 1.5%.
"The investigation is pretty well concluded, but there might be some tail-end things going on," Ms. Caldwell said.