The parent company of the University of Phoenix is moving forward with a proposed settlement in a lawsuit filed against them. It’s another in a long series of claims that the education company did not do its job.
In a public filing, Phoenix-based Apollo Education Group said last week it has preliminary court approval to settle Guinan v. Apollo, a case stemming from two company shareholders who filed a demand letter in June 2016.
The complaint claims Apollo Group’s directors and officers breached fiduciary duties, made false claims and did not provide other services. Kevin J. Guinan filed suit for $356,000.
In the settlement, the private school denies it violated any laws.
The school has faced a series of allegations, including accusations of improper practices and mishandling financial aid.
A hearing is scheduled for April 21 for the school to consider final approval of the settlement.
