Apollo Global Faces Securities Fraud Lawsuit
The Rosen Law Firm has filed a class action lawsuit against investment giant Apollo Global Management (APO). The suit is on behalf of investors who purchased securities between May 2021 and February 2026, alleging securities fraud.
The lawsuit alleges that Apollo and its executives, including CEO Marc Rowan and former CEO Leon Black, made false and misleading statements by failing to disclose their frequent business communications with Jeffrey Epstein in the 2010s. This contradicts the company's previous assertions that it had never done business with Epstein. The legal action, filed in the Southern District of New York, claims violations of the Securities Exchange Act of 1934. It seeks to recover damages for investors who purchased Apollo securities based on what the suit calls "materially false and misleading" public statements. The revelations about the extent of the relationship with Epstein have led to significant reputational harm for Apollo. The lawsuit argues that this entanglement was more than a mere possibility and was not properly disclosed to investors. A series of articles published by The Financial Times and CNN in February 2026 brought these connections to light, leading to a significant drop in Apollo's stock price. Following one report, the stock fell nearly 6% over two trading days, and after another, it fell more than 5%. In total, the company's market capitalization fell by over $12 billion in just over three weeks. The class period for the lawsuit begins with Apollo's financial filing for the first quarter of 2021, which referenced a report concluding that the company had never retained Epstein for any services. The lawsuit contends this and subsequent statements were misleading. Multiple law firms have announced their own investigations or filed similar class-action lawsuits on behalf of Apollo investors who suffered financial losses. Investors who wish to serve as lead plaintiff in the Rosen Law Firm's case must petition the court by May 1, 2026. Apollo was founded in 1990 by former Drexel Burnham Lambert bankers Leon Black, Josh Harris, and Marc Rowan. The firm went public on the New York Stock Exchange in 2011. Leon Black stepped down as CEO in 2021 following revelations about his financial ties to Epstein.
