Univ. Of Phoenix Parent Receives A Costly Lesson

Law360, New York (January 16, 2008, 12:00 AM EST) -- An Arizona jury has ruled that the for-profit company that runs the University of Phoenix must fork over a whopping $280 million for allegedly hoodwinking investors about its recruitment policies.

On Wednesday, the jury handed Apollo Group Inc. a major defeat, ruling that UOP's parent company should be on the hook for $5.55 a share for allegedly issuing false and misleading public statements.

“The jury finds in favor of the plaintiff and against the defendant on all matters,” the verdict stated.

The decision caps off a...
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