- Current report filing (8-K)
August 06 2010 - 9:46AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 6, 2010
Apollo Group, Inc.
(Exact name of registrant as specified in its charter)
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Arizona
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0-25232
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86-0419443
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(State or other jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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4025 S. Riverpoint Parkway, Phoenix,
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Arizona
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85040
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code: (480) 966-5394
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 8 Other Events
Item 8.01 Other Events.
Today, Apollo Group, Inc. (the Company) announced that it has received a request for
information from the U.S. Senate Committee on Health, Education, Labor and Pensions relating to the
Committees ongoing hearings relating to for-profit colleges receiving Title IV student financial
aid. The request seeks information to more accurately understand how
the Company uses Federal resources, including how it
recruits and enrolls students, sets program price or tuition, determines financial aid
including private or institutional loans, tracks attendance, handles withdrawal of students
and return of Title IV dollars and manages compliance with the requirement that no more
than 90% of revenues come from Title IV dollars. The request also
seeks an
understanding of the number of students who complete or graduate from programs offered by
the Company, how many of those students find new work in their educational area, the debt
levels of students enrolling and completing programs and how the Company tracks and manages
the number of students who risk default within the cohort default rate window.
In furtherance of this, the Committee has requested that the Company provide information about
a broad spectrum of the Companys business, including detailed information relating to financial
results, management, operations, personnel, recruiting, enrollment, graduation, student
withdrawals, receipt of Title IV funds, institutional accreditation, regulatory compliance and
other matters. The Company intends to cooperate with the Committee and to work with the
Committee to provide the requested information in a manner that does not compromise the Companys
sensitive proprietary operating and other information.
The Committee has requested that the Company produce a portion of the specified information by
August 26, 2010 and the remainder of the information by September 16, 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Apollo Group, Inc.
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August 6, 2010
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By:
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/s/ Brian L. Swartz
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Name:
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Brian L. Swartz
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Title:
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Senior Vice President and Chief
Financial Officer
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