Apollo Global Management, Inc. (APO) Securities Class Action

The litigation is focused on the propriety of Apollo’s assurances that it had never done business with Epstein.  

In contrast to Apollo’s assurances, the lawsuit alleges, among other things, that Apollo’s CEO Marc Rowan consulted Epstein on Apollo’s tax affairs.

This information came to light beginning on February 1, 2026, when the FT reported that “[t]op Apollo Global Management executives including chief Marc Rowan held wide-ranging discussions over the firm’s tax arrangements with Jeffrey Epstein throughout the 2010s, despite the private capital firm having previously said it ‘never did any business’ with the child sex offender.” The report was based on a review of millions of emails recently released by the U.S. Department of Justice.

Scrutiny heightened on February 17, 2026, when the FT reported that two teachers’ unions whose members have over $27.5 billion in capital commitments to Apollo funds requested an SEC investigation into Apollo’s “‘lack of candour’ over its ties to Epstein.” According to the article, the unions said in their letter to the SEC “‘[w]e are troubled by Apollo’s seeming inability to be forthcoming about the extent to which Epstein was a personal, social and professional associate of the firm and its partners.’”  

The next day, Apollo’s President James C. Zelter sent a letter to clients and partners claiming there was nothing new in the Epstein documents and “[n]either Marc Rowan nor anyone else at Apollo (excluding Leon Black) had either a business or personal relationship with Jeffrey Epstein.”

Finally, on February 21, 2026, CNN published “How Wall Street’s Apollo got tangled up again in the Epstein files.” In addition to the above matters, CNN reported that “Eleanor Bloxham, founder and CEO of The Value Alliance Company, which advises boards and executives, told CNN that she believes the unions have a ‘strong case’ pushing for an SEC investigation[]” and “described Apollo’s response this week as ‘very weak’ and questioned why Rowan’s meetings and correspondence with Epstein was not previously disclosed.”

As these events have unfolded, by February 23, 2026, investors saw the price of Apollo shares fall over 15%, wiping out over $12 billion of market capitalization in just over three weeks.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the APO investigation about?

We are investigating whether, having assured investors that it and no one else at Apollo except Black had ever done business with Epstein, Apollo misrepresented the reputational risk that it has apparently been facing for years.

WHAT SHOULD I DO?

I worked at APO. What should I do?

If you were an employee of APO, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in APO, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any APO investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.