Bronstein, Gewirtz & Grossman, LLC, Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Directors Of Apollo Group, Inc. In Connection With Executive Compensation
NEW YORK, Jan. 29, 2013 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating Apollo Group, Inc. (NasdaqGS: APOL) and its Board of Directors in connection with the compensation awarded to Executive Chairman of the Board and member of the Board of Directors Dr. John G. Sperling.
The investigation relates to whether the Board of Directors of Apollo Group, Inc. breached their fiduciary duty in connection with Dr. Sperling's compensation. On Thursday January 17, 2013 the Company announced that On January 14, 2013, the Board of Directors of Apollo Group, Inc. approved a post-retirement benefit package for Dr. John G. Sperling in connection with his retirement as Executive Chairman of the Board and member of the Board of Directors on December 31, 2012. Dr. Sperling will be awarded with a special retirement bonus of $5 million, nearly $70,000 a month from a company-paid annuity, health benefits for life and ownership of the two company cars he had use of as chairman.
If you own shares of Apollo Group, Inc. and wish to obtain additional information, please contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
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