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Apollo Group Rejected by High Court on $300 Million Award

The U.S. Supreme Court refused to question a jury verdict that may force Apollo Group Inc., the owner of the University of Phoenix, to pay more than $300 million for deceiving shareholders.

The justices today rejected an appeal from Apollo, accused of withholding an Education Department report that said the company was illegally paying recruiters on the basis of enrollment numbers. Apollo, the largest U.S. for-profit college operator, said the suing shareholders didn’t show that the eventual release of the report’s details caused the company’s prices to fall.