A litigation firm recently announced that a lawsuit was filed against an education service company due to shareholders alleging that the company violated securities laws.
Law office of Pomerantz, LLP, noted that the securities class action lawsuit was filed in the U.S. District Court for the District of Arizona against Apollo Education Group, Inc. This includes all shareholders who acquired stock in the company during the class period between Oct. 19, 2011, and April 1, 2014.
Shareholders made allegations that Apollo Education Group's leaders violated the Securities Exchange Act of 1934, specifically Sections 10(b), 20(a) and Rule 10b-5. This is because the company may have made statements that were either false or misleading about its business prospects and other aspects of operations. These included the company's potential manipulations of federal student loan programs, as well as other loan actions that may not have been in line with the associated government regulations.
For shareholders who are interested in the lead plaintiff position, it is important that they file the necessary paperwork with the court by June 23, 2014. This is not a mandatory position, and stockholders can still remain absent class members while participating.
When seeking more information on the case, discussing matters with the law firm is a possibility. The best person to speak with is Robert Willoughby, and he can be reached by email or telephone. Any shareholders who are planning on discussing matters over email need to inform the law office of how many shares they own, as well as their telephone number and mailing address.
The law office's website also provides shareholders with a copy of the complaint.
Second lawsuit filed
Another law office also announced that it filed a class action lawsuit against Apollo Education Group, for many of the aforementioned reasons.
Law firm Rigrodsky and Long, P.A., entered the litigation in the same court for shareholders who acquired stock during the class period.
It is also an option to discuss matters with this law office, as long as shareholders bought interests in the company during the class period, or owned them previous to that time, and still hold onto them. In order to learn more, it is best to get in contact with Timothy MacFall or Peter Allocco. They can be reached by email, mail or telephone, while there is further information on the law office's website.