Apollo Global Management Faces Securities Class Action Over Epstein Ties

Got story updates? Submit your updates here. ›

A securities class action lawsuit has been filed against Apollo Global Management (APO) alleging the firm and its top executives made false statements about the company's ties to convicted sex offender Jeffrey Epstein. The lawsuit claims Apollo CEO Marc Rowan and other leaders misled investors by claiming the firm "never did any business" with Epstein, when in fact they had wide-ranging discussions with him regarding tax arrangements and potential deals throughout the 2010s. The revelations have led to a $12 billion drop in Apollo's market capitalization.

Why it matters

The lawsuit highlights growing scrutiny over Apollo's relationship with Epstein and the firm's transparency with investors. It comes amid increased pressure on financial institutions to be upfront about any connections to the disgraced financier, whose dealings have cast a long shadow over the industry. The case also underscores the potential legal and reputational risks for public companies that are accused of misleading shareholders.

The details

The lawsuit, filed by law firm Hagens Berman, alleges that Apollo and its leadership made false statements about the firm's ties to Epstein. It claims that despite Apollo's public assurances that its relationship with Epstein "began and ended" with former CEO Leon Black, recent reports indicate current CEO Marc Rowan and other top executives held extensive discussions with Epstein on tax matters and potential deals. The complaint cites a series of investigative reports, including a Financial Times article and a CNN investigation, that have revealed new details about Apollo's entanglement with Epstein.

• On Feb. 1, 2026, the Financial Times reported that Rowan and other Apollo executives held wide-ranging discussions with Epstein regarding the firm's tax arrangements and potential "inversion" deals.
• On Feb. 17, 2026, two major teachers' unions with over $27.5 billion in Apollo commitments urged the SEC to investigate the firm's "lack of candor" over its ties to Epstein.
• On Feb. 21, 2026, CNN published new details alleging Epstein received internal Apollo financial documents and hosted meetings between the firm's executives and international private banks.

What they’re saying

What’s next

The critical deadline for Apollo investors to join the class action lawsuit is May 1, 2026. The lawsuit seeks to represent investors who purchased or acquired Apollo securities between May 10, 2021, and February 21, 2026.