Apollo Global Management faces securities class action over Epstein ties; stock drops roughly $12 billion in market value

National shareholder rights law firm Hagens Berman has announced the filing of a securities class action against Apollo Global Management, Inc. (NYSE: APO), following investigative reports that allege undisclosed ties between Apollo’s leadership and Jeffrey Epstein. The lawsuit seeks to represent investors who purchased or otherwise acquired Apollo securities between May 10, 2021, and February 21, 2026.

Allegations in the lawsuit

The complaint, Feldman v. Apollo Global Management, Inc., et al., No. 1:26-cv-01692, was filed in the U.S. District Court for the Southern District of New York. It alleges that Apollo and its top executives made materially false statements about the firm’s relationship with Epstein.

According to the allegations, Apollo’s leadership misled the public by claiming the firm “never did any business” with Epstein, and that the company’s ties began and ended with Leon Black. The complaint contends that the narrative presented to the market was not accurate.

Timeline of developments cited by the complaint

The filing points to a sequence of reports and related calls for regulatory scrutiny that emerged in early 2026:

• Feb. 1, 2026 (Financial Times): The Financial Times reported that CEO Marc Rowan and other top executives held discussions with Epstein regarding the firm’s tax arrangements and potential “inversion” deals throughout the 2010s.
• Feb. 17, 2026 (SEC investigation calls): Two major teachers’ unions, representing over $27.5 billion in capital commitments to Apollo, urged the SEC to investigate Apollo’s “lack of candor” about its ties to Epstein.
• Feb. 21, 2026 (CNN report): CNN published additional details alleging Epstein received internal financial documents and hosted meetings between Apollo executives and international private banks at his Manhattan townhouse.

Market impact

The announcement states that, following these reports, Apollo’s stock fell by more than 15% over three weeks, resulting in an estimated $12 billion reduction in market capitalization.

Lead plaintiff deadline

Hagens Berman said investors who purchased Apollo securities during the class period and suffered substantial losses have until May 1, 2026 to ask the Court to appoint them as Lead Plaintiff.

Whistleblower information

The firm also noted that individuals with non-public information regarding Apollo should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. It states that whistleblowers who provide original information may receive rewards totaling up to 30% of any successful recovery made by the SEC.