Shareholder Rights Law Firm Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Apollo Education Group,...
February 08 2016 - 8:40AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of Apollo
Education Group, Inc. (NASDAQ: APOL) breached their fiduciary
duties in connection with the proposed sale of the Company. The
buyers include The Vistria Group, funds affiliated with Apollo
Global Management and Najafi Cos.
Additional Information:
Apollo provides private education services in the United States
and internationally.
On February 8, 2016, Apollo Education announced it had signed a
definitive agreement to be acquired and taken private. Under the
terms of the agreement, Apollo Education shareholders will receive
$9.50 per share in cash for all Class A and B shares of stock
owned.
The investigation concerns whether Apollo Education’s board
failed to satisfy their duties to the Company shareholders,
including whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Apollo Education’s shares of common stock.
Nationally recognized Johnson & Weaver is investigating
whether the proposed deal price represents adequate consideration,
especially given the following:
- Apollo Education has a strong
balance sheet with little long-term debt.
- One Wall Street analyst has a $10.00
price target on the stock, which is far more than the $9.50 offer
price.
- Last year the stock traded as high
as $28.66.
If you are a shareholder of Apollo Education and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471. If
emailing, please include a phone number where you can be
reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160208005695/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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