More Pain For Lee Ainslie: Apollo Group Confirms Attorney General Investigation And Subpoena
It has just not been Maverick Capital's quarter: From a just released 8-K
Today, Apollo Group, Inc. announced that its subsidiary, The University of Phoenix, Inc. (“University of Phoenix”), has received notice that the State of Florida Office of the Attorney General in Fort Lauderdale, Florida has commenced an investigation into possible unfair and deceptive trade practices associated with certain alleged practices of University of Phoenix. The notice includes a subpoena to produce documents and detailed information for the time period of January 1, 2006 to the present about a broad spectrum of University of Phoenix’s business.
The Company is evaluating the notice and subpoena.
The information in Item 8.01 of this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Top 25 APOL holders. As can be seen State Street is all over it. Don't worry, stock will now surge as St Street pulls all the borrow and recalls all existing shots.