Apollo Asks High Court To Fix Circuit Split In Fraud Suit

Law360, New York (November 19, 2010, 5:39 PM EST) -- Apollo Group Inc., which operates the for-profit University of Phoenix, is asking the U.S. Supreme Court to reverse an appellate decision in a securities fraud case that could put the company on the hook for about $280 million in damages.

The company, which filed its petition with the Supreme Court on Nov. 15, contends that the high court should take up the case to resolve a deep circuit split in the wake of the June ruling by the U.S. Court of Appeals for the Ninth Circuit....
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