Class Action Lawsuit Rocks Apollo Global Amid Epstein Scandal | Law-Order
Shareholders are suing Apollo Global Management for allegedly misleading investors about its ties to Jeffrey Epstein, causing a $12 billion stock drop.Summary
A class action lawsuit has been filed against Apollo Global Management and its co-founders, Leon Black and Marc Rowan, alleging they misled investors for five years regarding their relationship with Jeffrey Epstein. The lawsuit claims Apollo falsely stated in regulatory filings that it had no business dealings with Epstein, while evidence suggests he actively engaged with Apollo’s senior leadership in the 2010s. This revelation triggered a 15% decline in Apollo’s stock price in February, resulting in a $12 billion loss in market value. Apollo maintains that only Leon Black had substantial ties to Epstein and that other interactions were limited and non-business related, referencing a 2021 review that acknowledged Epstein’s monetary dealings but stated Apollo did not retain his services. The firm has declined further comment through spokespersons for the involved personalities.
(Source：Devdiscourse)