|By PR Newswire||
|April 2, 2014 07:42 PM EDT||
NEW YORK, April 2, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Apollo Education Group, Inc. ("Apollo Education" or the "Company") (NasdaqGS: APOL) (CUSIP: 037604105). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Apollo Education and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 2, 2014, the Company announced in a Securities and Exchange Commission ("SEC") regulatory filing that, on March 21, 2014 the University of Phoenix, a subsidiary of Apollo Education, received a subpoena from the Office of the Inspector General of the U.S. Department of Education. "The Subpoena seeks the production by the University of documents and detailed information regarding a broad spectrum of the activities conducted in the University's Centralized Service Center for the Northeast Region located in Columbia, Maryland, for the time period of January 1, 2007 to the present, including information relating to marketing, recruitment, enrollment, financial aid processing, fraud prevention, student retention, personnel training, attendance, academic grading and other matters."
On this news, shares of Apollo fell $3.10 to $32.06, or more than 8.82%, on unusually heavy trading volume, on April 2, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP