Oregon Loses Appeal of Apollo Lawsuit

A U.S. appeals court on Tuesday sided with a lower court's decision to dismiss a class-action lawsuit the State of Oregon had filed against the Apollo Education Group. The suit alleged that Apollo, which owns the University of Phoenix, had made misleading statements about its enrollment and revenue growth. As a result the state's pension fund lost $10 million, according to the lawsuit. But the courts -- including the U.S. Court of Appeals for the Ninth Circuit, which ruled Tuesday -- have rejected those claims, finding that Apollo's statements were lawful "business puffing."