A lawsuit was filed for investors in NASDAQ:APOL shares in connection with the proposed takeover was announced and NASDAQ:APOL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/21/2016 -- A shareholder of Apollo Education Group Inc (NASDAQ:APOL) filed a lawsuit against the acquisition of Apollo Education Group Inc for $9.50 per share.
Investors who purchased shares of Apollo Education Group Inc (NASDAQ:APOL) and currently hold any of those (NASDAQ:APOL shares have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:APOL stockholders by agreeing to sell Apollo Education Group Inc too cheaply via an unfair process.
On February 8, 2016, Apollo Education Group Inc (NASDAQ:APOL) announced it has entered into an agreement to be acquired by a consortium of investors including The Vistria Group, LLC, funds affiliated with Apollo Global Management, LLC (NYSE: APO), and Najafi Companies for 9.50 per share in cash for both Class A and B shares.
However, the plaintiff claims that the proposed consideration NASDAQ:APOL shareholders will receive is grossly inadequate and undervalues Apollo Education Group Inc. Indeed, at least one analyst has set the high target price for NASDAQ:APOL shares at $10.00 per share and NASDAQ:APOL shares traded in the open market as recently as early 2015 as high as $33.26 per share, respectively in 2012 as high as $57.19 per share. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:APOL stockholders.
On March 17, 2016, NASDAQ:APOL shares closed at $8.28 per share.
Those who are current investors in Apollo Education Group Inc (NASDAQ:APOL) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego