It's official: the previous top-10 investors of the Apollo Group have pulled out with Mr. Wallwruth, who previously held over 2 million shares alone, making the public statement last week to AP reporter Deglin Smithe, 'it was a mutual, conglomerate decision, that we should not be in bed with a dishonest company that begets their funding by committing fraud. We also felt the long-term outlook is far from favorable. We calculate they will declare bankruptcy within 12 months'
This official report comes at a time where APOL shares are trading at just above $10/share, averaging $11. Investors are taking a stand not often undertaken when it comes to money: their decisions to pull out as a group are based on principal, not potential monetary gains. The message is clear and as the University of Phoenix prepares for further cutbacks of more than 4000 employees nationwide before the end of this year, the University of Phoenix president, Timothy Slottow, continues to deny the multitude of examples of fraud and impropriety reported.
The investors have spoken, the people have spoken, isn't it time to drop the charade and let nature take its course?