Apollo Ducks Derivative Suit Over U. Of Phoenix Recruiting

Law360, New York (September 12, 2012, 1:37 PM EDT) -- An Arizona federal judge on Tuesday tossed a derivative suit alleging Apollo Group Inc. and its executives mismanaged the for-profit University of Phoenix by hiding from investors questionable recruiting practices that caused the company's stock price to plummet.

In a one-sentence order entering judgment in the case, U.S. District Judge James A. Teilborg dismissed allegations from Apollo shareholder Darlene Smith and other investors that the company, which operates the online university, trumpeted its ability to attract new students through "enhanced and expanded educational services," when, in...
To view the full article, register now.




Case Information

Case Title

Smith v. Sperling et al

Case Number




Nature of Suit

Contract: Stockholders Suits


James A Teilborg

Date Filed

April 11, 2011

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.