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OREGON PUBLIC EMPLOYEES RET. FUND v. APOLLO GROUP

No. 12-16624.

774 F.3d 598 (2014)

OREGON PUBLIC EMPLOYEES RETIREMENT FUND; Amalgamated Bank, as Trustee for the LongView LargeCap 500 Index Fund, the LongView LargeCap 500 Index Veba Fund, the LongView Quantitative LargeCap Fund, and the LongView Quantitative LargeCap Veba Fund; Mineworkers' Pension Scheme, Plaintiffs-Appellants, v. APOLLO GROUP INCORPORATED; John Sperling; Gregory W. Cappelli; Charles B. Edelstein; Gregory J. Iverson; Joseph I. D'Amico; Brian L. Swartz; Brian E. Mueller; Peter V. Sperling; William J. Pepicello, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed December 16, 2014.

Attorney(s) appearing for the Case

Stuart M. Grant (argued), Grant & Eisenhofer P.A., Wilmington, DE, for Plaintiffs-Appellants.

Linda T. Coberly (argued), William P. Ferranti , and Benjamin L. Ellison , Winston & Strawn LLP, Chicago, IL; David B. Rosenbaum , Osborn Maledon, P.A., Phoenix, AZ, for Defendants-Appellees.

Before: J. CLIFFORD WALLACE, BARRY G. SILVERMAN, and MILAN D. SMITH, JR., Circuit Judges.

OPINION

In this consolidated class action, the Plaintiffs-Appellants (Plaintiffs) represent a class of investors that purchased stock in Apollo Group Inc., between May 21, 2007 and October 13, 2010 (the Class Period). The Plaintiffs allege that the Defendants-Appellees (Defendants), Apollo, a for-profit education...

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