Apollo Group stocks continue to plummet and it looks as if the company may fold if it does not sever ties with its University of Phoenix asset. Only a single major investor remains of the original 'Big 12' and it looks as if Mr Malory could be jumping ship as well. In a private meeting Tuesday, Malory acknowledged he possessed the knowledge that the University initiated unscrupulous procedures in order to bolster profits for the board of trustees in the wake of a nearly 90% decrease in valuation of APOL stock over the last three trading quarters. Former chairman Leggett was unavailable for comment.
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Good for APOL - good for UOP. Who's gonna buy that spun-off financial product? UOP has no value, it actually has but it's negative as you are loading yourself with legal liabilities. And once UOP is gone, what's going to be left for APOL? Really, what'd be APOL's market cap? A million? 100K? Give me a break.
APOL will spin off UOP next year.