Apollo Falls as Education Department Demands Records
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Apollo Education Group Inc., owner of the University of Phoenix, fell in late trading after disclosing it received a subpoena from the Education Department for certain marketing and recruitment records.
The Mid-Atlantic Region of the department’s Office of the Inspector General demanded records going back to the beginning of 2007 related to marketing, recruitment, enrollment, financial aid, fraud prevention, student retention and other issues at a regional Centralized Service Center in Columbia, Maryland, according to a filing today by Phoenix-based Apollo.