The firm represents investors who purchased or otherwise acquired shares in the Apollo Group, Inc. (“Apollo” or the “Company”) (NASDAQ: APOL). Plaintiffs and class members suffered damages when Apollo issued materially false and misleading statements related to the Company’s business and operations including but not limited to: (1) artificially inflating results by fraudulently inducing students to enroll in the Company’s scholastic and educational programs and engaged in other manipulative recruiting tactics; and (2) materially overstated the Company’s growth prospects by failing to properly disclose that defendants had engaged in illicit and improper recruiting activities.
On or about August 3, 2010 the United States General Accounting Office (“GAO”) released a report which concluded that for-profit educational institutions like Apollo and other for-profit educational institutions had engaged in an illegal and fraudulent course of action designed to recruit students and over-charge the federal government for the cost of said education. Following the release of the GAO report shares of Apollo collapsed, falling almost 10% in the following trading days.
If you purchased or otherwise acquired shares in APOL between June 1, 2009 and August 3, 2010 (the “Class Period”), and either lost money on the transaction or still hold the shares, you may wish to join in this action as Lead Plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than October 15, 2010. If you have any questions or would like additional information, please contact Gilman Law LLP by free consultation form, by email at email@example.com or by calling toll-free (877) 428-7374.