GPM Announces Investigation of Apollo Education Group, Inc.
October 09 2015 - 04:04PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) announces that it is
investigating potential claims on behalf of investors of Apollo
Education Group, Inc. (“Apollo Education” or the “Company”)
(NASDAQ:APOL) securities. The investigation focuses on whether the
Company and its officers violated securities laws by issuing
misleading information to investors related to the Company’s risks
and liabilities and Apollo Education’s compliance with applicable
government standards.
On October 9, 2015, the Company reported that the U.S.
Department of Defense (“DoD”) had placed Apollo Education’s
wholly-owned subsidiary University of Phoenix, Inc. under
probationary status and that the DoD might terminate the Company’s
ability to provide services to the U.S. military. The Company
further stated that the DoD placed the Company on probationary
status due to the University of Phoenix’s marketing practices, and
that a further investigation is underway by the U.S. Federal Trade
Commission and California Attorney General into the Company’s
business practices. On this news shares of Apollo Education
declined sharply in value, falling $1.09 per share, or nearly 9%,
during intra-day trading on October 9, 2015.
If you purchased or otherwise acquired Apollo Education
securities, have information or would like to learn more about
these claims, or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East,
Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at http://www.glancylaw.com. If you inquire by
email please include your mailing address, telephone number and
number of shares purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20151009005914/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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