(GlobeNewswire Via Acquire Media NewsEdge) NEW YORK, April 28, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of investors who purchased Apollo Education Group, Inc. ("Apollo" or the "Company") (Nasdaq:APOL) securities between October 11, 2011 and April 1, 2014.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (a) the Company manipulated federal student loan and grant programs to appear to comply with new federal regulations enacted as of June 2011; (b) the Company employed deceptive recruiting practices that were in violation of newly enacted federal regulations; (c) the Company engaged in numerous practices, including loan forbearance programs, in an attempt to appear compliant with relevant government regulations.
On June 30, 2012, Senator Tom Harkin, chairman of the Health, Education, Labor and Pensions Committee issued a report that contained troubling statistics and findings, some specifically about Apollo. As a result, Apollo's shares fell 4.1% or $1.17, to close at $27.22 on July 30, 2012. On April 1, 2014, Apollo disclosed that the Department of Education is conducting an investigation into the Company. On this news, Apollo shares dropped $3.10 to close at $32.06 per share on April 2, 2014.
If you suffered a loss in Apollo you have until June 23, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/apollo-education-group-apol.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Source: Levi & Korsinsky, LLP
2014 GlobeNewswire, Inc.