NEW YORK, Feb. 8, 2016 /PRNewswire/ -- Milberg LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Apollo Education Group, Inc. ("APOL") in connection with the proposed acquisition of Apollo Education by a consortium led by private investment firm The Vistria Group.
On February 8, 2016, Apollo Education announced that 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. However, Apollo Education stock has traded at well above the proposed offer price when it reached $28.51 per share on February 24, 2015 and has traded above the proposed offer price as recently as October 8, 2015, when it traded at $12.36 per share.
Milberg LLP's investigation focuses on the potential unfairness of the consideration being provided to Apollo Education's stockholders and the process by which Apollo Education's Board of Directors considered and approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys listed below to discuss the investigation, their rights, or potential remedies.
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SOURCE Milberg LLP