Gilman and Pastor Announces Notice of October 15, 2010 Deadline for Plaintiff Submissions for Apollo Group, Inc. Stock Owners/In
October 14 2010 - 1:19PM
Gilman and Pastor, LLP announces Notice of Deadline in the
securities fraud class action lawsuit which was commenced in the
United States District Court for the District of Arizona against
Apollo Group, Inc. ("Apollo") and certain of Apollo's officers
(collectively "Defendants") on behalf of a class consisting of all
purchasers of Apollo common stock (Nasdaq:APOL) during the period
between February 12, 2007 through August 3, 2010, inclusive (the
"Class Period").
The Complaint alleges that Apollo violated federal securities
fraud laws by issuing a series of materially false and misleading
statements. These statements were false because:
(1) Defendants inflated Apollo's results by inducing
students to enroll in Apollo's scholastic and educational programs
and engaged in other manipulative recruiting tactics;
(2) Defendants had materially overstated Apollo's growth
prospects by failing to properly disclose that defendants had
engaged in illicit and improper recruiting activities, thereby
artificially inflating Apollo's reported results and future growth
prospects; and
(3) Apollo did not maintain adequate systems of internal
operation or financial controls which would have permitted Apollo's
reported operational statements and foreseeable growth prospects to
be true and accurate or reliable.
On or about August 3, 2010, the United States General Accounting
Office ("GAO") released a report which concluded that for-profit
educational institutions like Apollo had engaged in an illegal and
fraudulent course of action designed to recruit students and
over-charge the federal government for the cost of said
education. Following the release of the GAO report, shares of
Apollo collapsed, falling almost 10% in the following trading
days.
If you purchased or otherwise acquired Apollo shares during the
Class Period, between February 12, 2007 and August 3, 2010, and
either lost money on the transaction or still hold the shares, you
may wish to join in this action. If you wish to serve as a
lead plaintiff, a party representative that acts on behalf of other
class members, you may do so if the Court determines that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the
class. Your ability to share in any recovery is not affected
by the decision whether or not to serve as a lead
plaintiff.
To discuss your rights as an Apollo shareholder, including as to
the recovery of your losses, or to obtain additional information,
please contact Gilman and Pastor, LLP at www.investment-losses.com,
by email at rpotkay@gilmanpastor.com or by calling toll-free (877)
428-7374.
CONTACT: Gilman and Pastor, LLP
Kenneth G. Gilman, Esquire
(877) 428-7374
Fax: (508) 291-3258
kgilman@gilmanpastor.com
16 Fourteenth Avenue
Wareham, MA 02571
Apollo Education Group, Inc. (NASDAQ:APOL)
Historical Stock Chart
From May 2024 to Jun 2024
Apollo Education Group, Inc. (NASDAQ:APOL)
Historical Stock Chart
From Jun 2023 to Jun 2024