UPCOMING DEADLINE ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 from Investment in Apollo Ed...
April 18 2016 - 2:31PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160418006573/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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