WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Apollo Education Group, Inc. (NASDAQ GS: APOL)?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that it has commenced an investigation of Apollo Education Group, Inc. (“Apollo” or the “Company”) for possible violations of the federal securities laws by the Company and certain of its officers and directors.
On October 7, 2015, Apollo’s wholly-owned subsidiary, University of Phoenix, Inc., was notified by the U.S. Department of Defense ("DoD") that the University had been placed on probationary status in respect of its participation in the DoD Tuition Assistance Program for active duty military personnel, and that the DoD is considering whether to terminate the DoD Voluntary Education Partnership Memorandum of Understanding with the University ("DoD MOU") which is the basis on which the University's active duty military students participate in the DoD Tuition Assistance Program. Then, on October 22, 2015, Apollo reported a fiscal fourth-quarter loss of $18.5 million, after reporting a profit in the same period a year earlier.
On this news, shares in Apollo plummeted over 32%, closing at $7.19 per share on October 22, 2015, on heavy trading volume.
If you purchased shares of Apollo and wish to discuss this investigation, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to firstname.lastname@example.org; or at: http://rigrodskylong.com/investigations/apollo-education-group-inc-apol-investigation.
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