Apollo Group, Inc. faces shareholder investigation

PRLog (Press Release) – Nov 02, 2009 – An investigation on behalf of investors of Apollo Group, Inc. (Public, NASDAQ:APOL) over possible securities laws violations by Apollo Group, Inc. and others was announced.

If you purchased Apollo Group, Inc. (NASDAQ:APOL) shares and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc at:

Email: mail@shareholdersfoundation.com

or at: +1 (858) 779 – 1554

The investigation by a law firm focuses on the following events. On October 27, 2009, after the market closed, Apollo Group, Inc reported its financial results for the fourth quarter and year ended August 31, 2009, including earnings per share of $1.06 for the three months ended August 31, 2009 excluding certain special items.  In addition to stating “[w]e are pleased to report another quarter of excellent financial and operating performance”, Apollo Group, Inc  also reported that the U.S. Securities and Exchange Commission had begun an informal probe into Apollo Group’s revenue recognition practices and stated as follows: “The Company announced that the Enforcement Division of the Securities and Exchange Commission (“SEC”) has commenced an informal inquiry into the Company’s revenue recognition practices. Based on the information that has been disclosed to Apollo Group, the scope, duration and outcome of the inquiry cannot be determined at this time. The Company intends to cooperate fully with the SEC in connection with the inquiry.” On October 28, 2009, during morning trading, Apollo Group’s common stock APOL declined by $12.06 per share, approximately 16.5%, from $72.97 per share to $60.91 per share on substantially greater than average volume.

Apollo Group, Inc., located in Phoenix, Arizona, is a private education provider. The Company offers educational programs and services both online and on-campus at the undergraduate, graduate and doctoral levels through its wholly-owned subsidiaries. Apollo Group, Inc shares APOL traded recently at $58.15 per share, down from its 52weekHigh of $90.00 per share. Apollo Group reported in 2007 Total Revenue of $2.72379billion with a Net Income of $408.81million. and in 2008 Total Revenue of $3.14093billion with a Net Income of $476.52million.


Those who purchased Apollo Group, Inc. (Public, NASDAQ:APOL) shares and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc at:

Email: mail@shareholdersfoundation.com

or at: +1 (858) 779 – 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
_____________________________________________________________________________________