InfiLaw is trying to sell Florida Coastal. If it did so, it would be left with only one law school, namely Arizona Summit, since Charlotte closed down several months ago after losing its license. But Arizona Summit is also in trouble with the ABA and must be suffering financial pressure from rapidly shrinking enrollment.
Measured by the LSAT scores of their entering classes, the InfiLaw toilets (including defunct Charlotte) are among the bottom ten of the 200 or so ABA-accredited law schools. Their median LSAT scores of 143 and 144 represent the 21st and 23d percentiles, respectively—down in the bottom quarter of the pool of people taking the LSAT. Graduates of these über-toilets also face perfectly dreadful prospects of employment. Of last year's graduates, 22% from Arizona Summit and 40% from Florida Coastal were unemployed ten months after graduation, and many others were in short-term, part-time, or non-legal (very likely low-paying) positions. Only 1% from Arizona Summit, and none at all from Florida Coastal, got Big Law. No graduate from either school got a federal clerkship.
Florida Coastal recently had to answer allegations from the ABA of non-compliance with various standards for accreditation. Scam-dean Scott DeVito has claimed that his toilet school is "fully compliant, based on [its] data". Elsewhere we have discussed the accuracy of that claim.
A change of ownership could hold up any disciplinary action against Florida Coastal, but the ABA has the power to prevent any "major change in" Florida Coastal's "organizational structure"—presumably by withdrawing accreditation or imposing other sanctions if the change goes through without the ABA's consent.
I doubt, however, whether Florida Coastal will change hands as a going concern (rather than as a package of land and other assets). Who, after all, would want to buy a failed toilet that has seen its first-year enrollment shrink by more than 70% in six years? that struggles to keep the middle half of its class within the 140s on the LSAT? where a minority of students hold long-term, full-time jobs of any kind ten months after graduation? that faces disciplinary action on multiple grounds from its accrediting authority?
Perhaps some readers of this article will assist the InfiLaw scamsters by posting bids below. Would anyone like to start with 1¢?