GPM Reminds Investors of the May 13 Deadline in the Class Action Lawsuit Against Apollo Education Group, Inc. & Encourages In...
May 10 2016 - 1:08PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the
upcoming May 13, 2016 deadline to file a lead plaintiff
motion in the class action filed on behalf of investors who
purchased Apollo Education Group, Inc. (“Apollo” or the “Company”)
(NASDAQ: APOL) securities between June 26, 2013 and October 21,
2015, inclusive (the “Class Period”). Apollo investors have
until May 13, 2016 to file a lead plaintiff
motion.
The complaint alleges that throughout the Class Period, Apollo
reported generating billions of dollars in revenues while
concealing that a substantial portion of those revenues were being
derived through improperly aggressive recruiting tactics being
undertaken at U.S. military bases across the country. The complaint
further alleges that Apollo’s recruiting practices directly
contradicted an Executive Order signed into law by President
Barrack Obama on April 27, 2012. Apollo's improperly aggressive
recruiting tactics also allegedly violated the express terms of the
contractual agreements the Company had 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. And, upon disclosure of issues
relating to Apollo’s continued participation in the DoD’s tuition
program, the Company’s shares declined in value.
If you purchased Apollo shares, you may move the Court no later
than May 13, 2016 to request appointment as lead
plaintiff. To be a member of the class you need not take any action
at this time; you may retain counsel of your choice or take no
action and remain an absent member of the Class. If you wish
to learn more about this action, or if you 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/20160510006625/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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