U Of Phoenix Investor Suit Doesn't Make The Grade: Judge

Law360, New York (October 28, 2011, 3:44 PM EDT) -- An Arizona federal judge on Thursday tossed a consolidated class action alleging the operator of the University of Phoenix hid from investors shady recruiting practices that caused the company's stock price to tank, saying the complaint didn't meet the necessary pleading standards.

“The court finds that plaintiffs have failed to plead a cogent and compelling theory of scienter and failed to satisfy loss causation pleading requirements,” U.S. District Judge James A. Tielborg wrote.

The plaintiffs — led by the Oregon Public Employees Retirement Fund, Britain's Mineworkers'...
To view the full article, register now.




Case Information

Case Title

In re Apollo Group, Inc. Securities Litigation

Case Number




Nature of Suit

Other Statutes: Securities/Commodities


James A Teilborg

Date Filed

August 13, 2010

Law Firms


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.