University Of Phoenix Rips Securities Class Action

Law360, New York (April 20, 2011, 1:46 PM EDT) -- The University of Phoenix's operator on Tuesday blasted a consolidated class action in Arizona alleging it hid from investors shady recruiting practices that caused the company's stock price to tank, saying the complaint lacks even the most rudimentary requirements for alleging fraud.

Apollo Group Inc., the company that runs the university, said the plaintiffs — led by the Oregon Public Employees Retirement Fund, the Mineworkers' Pension Scheme and Amalgamated Bank — seemed more interested in railing against the business of for-profit schools than making a plausible...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In re Apollo Group, Inc. Securities Litigation


Case Number

2:10-cv-01735

Court

Arizona

Nature of Suit

Other Statutes: Securities/Commodities

Judge

James A Teilborg

Date Filed

August 13, 2010

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.