EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Apollo Education Group, Inc. – APO...
April 12 2016 - 1:55PM
Rosen Law Firm, a global investor rights law firm, announces the
filing of a class action lawsuit on behalf of purchasers Apollo
Education Group, Inc. securities (NASDAQ:APOL) from June 26, 2013
through October 21, 2015, all dates inclusive (the “Class Period”).
The lawsuit seeks to recover damages for Apollo Education Group
investors under the federal securities laws.To join the Apollo
Education Group class action, go to the firm’s website at
http://rosenlegal.com/cases-863.html or call Phillip Kim, Esq. or
Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via
email at pkim@rosenlegal.com or kchan@rosenlegal.com.NO CLASS HAS
YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED,
YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY
ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
YOU MAY RETAIN COUNSEL OF YOUR CHOICE.According to the lawsuit,
defendants throughout the Class Period issued materially false and
misleading statements to investors and/or failed to disclose that:
(1) a substantial portion of generated revenues was derived from
improperly aggressive recruiting tactics at U.S. military bases
across the country that contradicted an Executive Order President
Barack Obama signed into law on April 27, 2012; (2) the improperly
aggressive recruiting tactics also allegedly violated the express
terms of the contractual agreements Apollo Education Group entered
into with the U.S. Department of Defense (“DoD”) in February 2012
and July 2014 to permit the University of Phoenix to continue to
participate in the DoD’s tuition assistance programs; (3) efforts
to transition Apollo Education Group’s online classroom platform to
a new “industry-leading private cloud infrastructure, offering
enhanced scalability, reliability and performance” were failing
because the new platform was not functioning as designed from its
inception due to software compatibility problems, which led to a
dramatic increase in student drop-out rates; (4) the software
compatibility problems also adversely impacted new student
enrollment; and (5) as a result, Apollo Education Group’s financial
statements were materially false and misleading at all relevant
times. When the true details entered the market, the lawsuit claims
that investors suffered damages.A class action lawsuit has already
been filed. If you wish to serve as lead plaintiff, you must move
the Court no later than May 13, 2016. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. If you wish to join the litigation, go to
the firm’s website at http://rosenlegal.com/cases-863.html for more
information. You may also contact Phillip Kim, Esq. or Kevin Chan,
Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at
pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the
globe, concentrating its practice in securities class actions and
shareholder derivative litigation.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
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