Apollo Group has lost $32 million in the fiscal second quarter because of a charge related to a class action lawsuit.
After a 1Q profit increase of 23% report on January 8, Apollo's founder and Chairman of the Board, John Sperling, sold 685,825 shares of APOL stock between January 14 and January 16. Since last quarter, institutional investors have sold 37 million shares. Although most of Apollo's students receive government loans unaffected by the current loans crisis, general fear in the loans market and dropping enrollment rates have soured investor confidence in Apollo Yahoo Finance: APOL - Insider Trading Insider Trading== Notes ==