September 17, 2004
Apollo Settles Suit With Education Dept.
The Apollo Group, the parent company of the University of Phoenix, has announced that it has agreed to pay the U.S. Department of Education a total of $14.2-million to settle two long-running inquiries into the company's practices in compensating student recruiters and in accounting for enrollment. Todd S. Nelson, chairman of the company, said the settlements involved no admission of wrongdoing.
One set of settlements -- which Apollo will resolve with a payment of about
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