STEVENSON, Md.--(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 email@example.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.