October 22, 2004

Shareholders File 3 Suits Against Apollo Group

By THOMAS BARTLETT

Here come the lawyers!

Three shareholder lawsuits were filed last week against the Apollo Group, the parent company of the University of Phoenix, after the release of a report by the U.S. Education Department that was critical of the university's recruitment practices.

If recent history is a guide, they probably won't be the last. ITT Educational Services and Career Education Corporation, two other large for-profit higher-education companies that have been accused of improper

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