SEO Headline (Max 60 characters)
Apollo Shareholders Sue Company to Stop Sale
Apollo Education Group, the parent company of the University of Phoenix, is facing a lawsuit from two shareholders who are seeking to postpone or terminate the company's sale, according to a corporate filing posted Thursday.
Earlier this week, Apollo learned that the shareholders had filed a complaint against the company in the Superior Court of Arizona prior to a required 90-day waiting period. That complaint, in addition to requesting terminating the Apollo merger, accuses the company of corporate waste and abuse of control.
In May, Apollo shareholders approved a $1.14 billion deal for the company to be purchased by a consortium of investors.
Share Article
Ashley A. Smith
Ashley A. Smith, Reporter, covers community colleges, for-profit schools and non-traditional students for Inside Higher Ed. She joined the publication in 2015 after covering government and K-12 education for the Fort Myers News-Press in Florida for three years. Ashley also covered K-12 and higher education for three years at the Marshfield News-Herald in Wisconsin. She has interned with The Flint Journal, USA Today and the Detroit Free Press. Ashley grew up in Detroit and is a 2008 graduate of Michigan State University.
Trending Stories
Most Shared Stories
- Seven professor actions that contribute to student well-being (infographic)
- Conservative colleges celebrate the demise of Roe v. Wade
- Authors discuss book on science and definitions of merit
- Parent acquitted in admissions case | Inside Higher Ed
- Adopt 'crip time' to make higher ed more inclusive (opinion) | Inside Higher Ed
in Title IX Proposal Still Unknown
Stoke Tennessee Controversy