Investors who filed a lawsuit against the Apollo Group, owner of the University of Phoenix had a lower court ruling overturned by a federal judge.
The plaintif investors had won a $280 million verdict or $5.50 per share when they claimed that Apollo had mislead them about a Department of Education report critical of the recruitment policies at the university.
When the report became public, the shares took a dive. Even after concluding that in fact the company had mislead investors about the report findings and caused the subsequent tanking of the stock, the plaintiff hadn’t proved they were damaged.
Since when doesn’t 1+1 equal 2?
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2 Comments Received
September 10th, 2008 @4:55 am
Its very bad to get at every time with black coat men. But to won a $280 million verdict or $5.50 per share, its really great!
December 10th, 2008 @9:11 pm
I am in the process of a grade dispute with the university. This process his taking such a long time with little results. Can you help me?
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