February 9, 2016
Bernstein Liebhard LLP is investigating whether the Board of Directors of Apollo Education Group, Inc. (“Apollo” or the “Company”) (NASDAQ: APOL) has breached its fiduciary duty to its shareholders in connection with the proposed acquisition of Apollo by a consortium led by private investment firm The Vistria Group.
On February 8, 2016, Apollo Education announced that it had signed a definitive agreement to be acquired and taken private. Under the terms of the agreement, Apollo Education shareholders will receive $9.50 per share in cash for all Class A and B shares of stock owned. However, Apollo Education stock has traded at well above the proposed offer price when it reached $28.51 per share on February 24, 2015 and has traded above the proposed offer price as recently as October 8, 2015, when it traded at $12.36 per share.
The investigation is focused on whether this offer undervalues the Company’s shares.
If interested in discussing your rights as a Apollo shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.
