If you are a former or current student of University of Phoenix, Canada), who experienced any fraud, wrongdoing, deceptive and questionable marketing practices, or had any school loan issues, or you have information relating to the investigation including also former employees or whistleblowers, you have options and you should contact the Shareholders Foundation, Inc by email email@example.com or call +1(858) 779 - 1554
Apollo Group, Inc., the parent company of also University of Phoenix, Canada, has been accused of securities fraud by an investor lawsuit. The lawsuit followed a report by the U.S. Government Accountability Office with the title “Undercover Testing Finds Colleges Encouraged Fraud and Engaged in Deceptive and Questionable Marketing Practices” which detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, "For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices." The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff. According to this GAO study, the college personnel at schools owned by Education Management Corp. may have encouraged applicants to falsify their financial aid forms to qualify for federal aid and pressured applicants to sign a contract for enrollment prior to allowing them to speak to a financial advisor.
According to the investigation by a law firm former and current students of University of Phoenix, Canada may also have material information concerning those allegations and may be eligible to file a complaint for allegedly misleading students.
Also whistleblowers may according to the law firm be able to assist or file their own complaint. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law in July the SEC can award between 10 percent and 30 percent of any monetary sanctions of more than $1 million to whistleblowers who provide “original information”
Recently the Attorney General of Florida Bill McCollum launched an investigation into some for-profit education companies including Apollo Group Inc.'s (APOL) University of Phoenix. On October 19, 2010, the Wall Street Journal reported that Florida Attorney General's office has launched an investigation into five for-profit colleges, including four publicly traded schools, seeking information on potential misrepresentations in financial aid, recruitment and other areas. The state is reportedly looking into allegations at Washington Post Co.'s (WPO) Kaplan Inc.--including its Kaplan University, Kaplan Educational Centers and Kaplan College units--and at Education Management Corp.'s (EDMC) Argosy University, Apollo Group Inc.'s (APOL) University of Phoenix; Corinthian Colleges Inc.'s (COCO) Everest College and privately held MedVance Institute.
Those who are former or current students of University of Phoenix, Canada, who experienced any fraud, wrongdoing, deceptive and questionable marketing practices, or had any school loan issues, or those who have information relating to the investigation including also former employees or whistleblowers, you have options and you should contact the Shareholders Foundation, Inc by email firstname.lastname@example.org or call +1(858) 779 - 1554
# # #
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.