Investors Lobby For Lead Role In Apollo Fraud Action

Law360, New York (October 19, 2010, 2:53 PM EDT) -- Two groups of Apollo Group Inc. institutional investors are jockeying for lead plaintiff status in three related putative class actions alleging that the for-profit company that runs the University of Phoenix made false and misleading statements in its financial disclosures.

The Oregon Public Employees Retirement Fund, the Mineworkers' Pension Scheme and Amalgamated Bank asked the U.S. District Court for the District of Arizona to appoint them as lead plaintiff in a motion filed in the three securities fraud actions Friday, the same day fellow class members...
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