Apollo Group board member resigns |
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Thu, 15 Mar 2007 16:54
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PHOENIX (AP) - Apollo Group Inc., which runs online education institutions including the University of Phoenix, said Thursday that board member Daniel D. Diethelm has resigned following completion of a stock options investigation by a board committee.Diethelm was on the board's special committee that analyzes and reports on Apollo's stock option practices.The committee reported in December that some former company officers might have attempted to hide options accounting shortages by backdating or posting grant dates that match low stock prices instead of the day the stock options are granted.Apollo shares rose 37 cents to $45.63 during morning trading on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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