SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Apollo Educatio...
April 08 2016 - 1:01PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Arizona on behalf of purchasers of Apollo Education Group, Inc.
(Nasdaq:APOL) (“Apollo” or the “Company”) Class A common stock
during the period between June 26, 2013 and October 21, 2015,
inclusive (the “Class Period”). Investors with losses in
excess of $100,000 who wish to become proactively involved in the
litigation have until May 13, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in the Company’s common stock during
the Class Period. Members of the Class will be represented by
the lead plaintiff and counsel chosen by the lead plaintiff.
No class has yet been certified in the above action.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that
Apollo’s new online classroom platform was not functioning as
designed due to software compatibility problems and that a
substantial portion of the Company’s revenues were being derived
through improperly aggressive recruiting tactics being undertaken
at U.S. military bases across the country contradicting an
Executive Order signed into law by President Barack Obama on April
27, 2012 and violating the express terms of the contractual
agreements the Company had entered into with the U.S. Department of
Defense.
According to the complaint, when the revelations
came to light in a series of partial disclosures, the value of
Apollo shares declined significantly.
If you have suffered a loss from investment in
Apollo Class A common stock purchased on or after June 26, 2013 and
held through the revelation of negative information during and/or
at the end of the Class Period and would like to learn more about
this lawsuit and your ability to participate as a lead plaintiff,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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