Apollo Securities Settlement
- Offers settlement details of Apollo Group Securities litigation
- The Case is being adjudicated in the United States District Court for Arizona
- Judge Douglas L. Rayes is presiding
This website provides details about settlement information regarding the claim that Apollo Securities schemed to defraud clients. The defendants, Apollo Security, are accused of making false statements in regards to stock options from 11/28/01 to 10/18/06. Apollo Securities is accused of violating the Securities Exchange Act of 1934; however, the defendants deny wrongdoing and maintain that Lead Plaintiff and the Settlement Class were in no way defrauded or otherwise suffered any damage.
Finer points regarding the Apollo Securities settlement
- Anyone who purchases stocks from Apollo Securities between 11/28/01 and 10/18/06 is eligible to be a member of the Settlement Class
- These stocks include University of Phoenix Online stock as well as Apollo Education Group Class A stock
- Defendants have agreed to payout 13,150,000 without admitting wrongdoing
- The balance of the settlement will be available to the Settlement Class after payment of taxes, attorneys fees and administration costs
- Court-appointed-firm Robbins Gellar Rudman & Dowd LLP represents the Settlement Class, and claimants will not be charged for their services
The Settlement Class has a number of legal rights. For example, submitting a claim is the only way to receive a settlement. Those eligible for the Settlement Class who opt to do nothing will forfeit their rights and receive no payment. Settlement Class members are allowed to speak in court and ask questions regarding the overall fairness of the settlement. Claimants can also exercise their option to write to the court and voice their concerns with the settlement. The deadline to submit a claim is 8/3/15.
Those who are interested can peruse relevant case documents on the Apollo Securities Litigation Website.
Contacting Apollo Securities Litigation