SAN DIEGO, April 1, 2019 /PRNewswire/ --
UNITED STATES DISTRICT COURT
DISTRICT OF ARIZONA
Rameses Te Lomingkit, Individually And On Behalf
Apollo Education Group, Inc. (F/K/A Apollo Group,
SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND
PROPOSED SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING;
AND (III) MOTION FOR AN AWARD OF ATTORNEYS' FEES
AND REIMBURSEMENT OF LITIGATION EXPENSES
TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED CLASS A COMMON STOCK OF APOLLO EDUCATION GROUP, INC. ("APOLLO") DURING THE PERIOD FROM NOVEMBER 13, 2013 THROUGH OCTOBER 21, 2015, INCLUSIVE (THE "CLASS PERIOD"), AND WERE DAMAGED THEREBY (THE "SETTLEMENT CLASS")1:
PLEASE READ THIS NOTICE CAREFULLY. YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the District of Arizona (the "Court"), that the above-captioned securities class action (the "Action") is pending in the Court.
YOU ARE ALSO NOTIFIED that the Lead Plaintiff in the Action, on behalf of itself and the Settlement Class, has reached a proposed settlement of the Action for $7,400,000 in cash (the "Settlement"), that, if approved, will resolve all claims in the Action.
A hearing will be held on June 26, 2019 at 1:30 p.m., before the Honorable James A. Teilborg at the United States District Court for the District of Arizona, Courtroom 503 of the Sandra Day O'Connor U.S. Courthouse, 401 West Washington Street, Phoenix, AZ 85003 to determine: (i) whether the proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether, for purposes of the proposed Settlement only, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be certified as the Class Representative for the Settlement Class, and Lead Counsel should be appointed as Class Counsel for the Settlement Class; (iii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated February 8, 2019 (and in the Notice), should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's motion for an award of attorneys' fees and reimbursement of expenses should be approved.
If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. If you have not yet received the Notice and Claim Form, you may obtain copies of these documents by contacting the Claims Administrator at: Apollo Education Group Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173061, Milwaukee, WI 53217, 1-866-778-9625, info@ApolloEducationGroupSecuritiesLitigation.com. Copies of the Notice and Claim Form can also be downloaded from the Settlement website, www.ApolloEducationGroupSecuritiesLitigation.com.
If you are a member of the Settlement Class, in order to be eligible to receive a payment under the proposed Settlement, you must submit a Claim Form postmarked no later than July 19, 2019. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the distribution of the net proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.
If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than June 5, 2019, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not be eligible to share in the proceeds of the Settlement.
Any objections to the proposed Settlement, the proposed Plan of Allocation, or Lead Counsel's motion for attorneys' fees and reimbursement of expenses must be filed with the Court and delivered to Lead Counsel and Defendants' Counsel such that they are received no later than June 5, 2019, in accordance with the instructions set forth in the Notice.
Please do not contact the Court, the Clerk's Office, Apollo, any of the other Defendants in the Action, or their counsel regarding this notice. All questions about this notice, the proposed Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.
Requests for the Notice and Claim Form should be made to:
Apollo Education Group Securities Litigation
c/o A.B. Data, Ltd.
P.O. Box 173061
Milwaukee, WI 53217
Inquiries, other than requests for the Notice and Claim Form, should be made to Lead Counsel:
Jonathan D. Uslaner, Esq.
BERNSTEIN LITOWITZ BERGER & GROSSMANN LLP
12481 High Bluff Drive, Suite 300
San Diego, CA 92130-3582
By Order of the Court
1 Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the full printed Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys' Fees and Reimbursement of Litigation Expenses (the "Notice").
SOURCE Bernstein Litowitz Berger & Grossmann LLP