Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Apollo Education Group,
Inc. (NASDAQ: APOL) breached their fiduciary duties in connection with
the proposed sale of the Company. The buyers include The Vistria Group,
funds affiliated with Apollo Global Management and Najafi Cos.
Additional Information:
Apollo provides private education services in the United States and
internationally.
On February 8, 2016, Apollo Education announced 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.
The investigation concerns whether Apollo Education’s board failed to
satisfy their duties to the Company shareholders, including whether the
board adequately pursued alternatives to the acquisition and whether the
board obtained the best price possible for Apollo Education’s shares of
common stock.
Nationally recognized Johnson & Weaver is investigating whether the
proposed deal price represents adequate consideration, especially given
the following:
-
Apollo Education has a strong balance sheet with little long-term
debt.
-
One Wall Street analyst has a $10.00 price target on the stock,
which is far more than the $9.50 offer price.
-
Last year the stock traded as high as $28.66.
If you are a shareholder of Apollo Education and believe the proposed
buyout price is too low or you’re interested in learning more about the
investigation or your legal rights and remedies, please contact lead
analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471. If emailing, please include a phone number where you
can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California, New York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more information
about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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