DeVry Shares Continue Charge Lower, Down Nearly 30% Since January

Shares of DeVry Education Group Inc (NYSE: DV) were trading lower by more than 7 percent ahead of Wednesday's opening bell on no confirmed news.

According to Reuters, DeVry's stock was trading lower following an unregistered block sale. The publication, citing its sources, stated that Citigroup priced 4.8 million shares at $17.05, representing a more than 7 percent discount to the stock's $18.41 close on Tuesday.

DeVry's stock has already plunged nearly 30 percent since the start of 2016. The selling pressure gathered momentum after the Federal Trade Commission filed a suit against the company's operators for alleged misleading advertisement.

Related Link: DeVry Education Responds To FTC Complaint, Notes Its Use Of Statistics In Advertisements Is "Appropriate"

The Washington Post reported on March 14 that the Department of Veterans Affairs suspended the university from participating in a program that identifies schools "doing a good job of serving former troops."