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Bronstein, Gewirtz & Grossman, LLC, Launches Investigation Into Possible Breaches Of Fiduciary Duty By Board of Directors Of Apollo Group Inc


Tuesday, 29 Jan 2013 08:31am EST 

Bronstein, Gewirtz & Grossman, LLC is investigating Apollo Group, Inc. and 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 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. 

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