Post Thumbnail

The Associated Press reports that Steve Jobs and other senior executives have settled a stockholder lawsuit claiming they mishandled stock option awards. Insurers representing Jobs and Apple's board will pay Apple, Inc. $14 million, which tidily covers almost $9 million in attorney's fees and expens...

6 years ago 0 Comments
Post Thumbnail

In another chapter in the scandal surrounding Apple's choice to back-date options granted to key executives (including Steve Jobs), two plaintiffs have filed a class-action lawsuit in federal court against two former executives and members of Apple's board of directors. Apple was sued similarly in 2...

6 years ago 0 Comments
Post Thumbnail

After the SEC more or less cleared Apple of those pesky backdating charges and a California court dismissed a shareholder class-action lawsuit accusing the company of improper accounting procedures, it looked like the good times were over, but fear not: another institutional investor has filed suit ...

6 years ago 0 Comments
Post Thumbnail

The twisted tale of Apple's backdated stock options drew closer to its final chapter today, with a California judge dismissing the shareholder class-action lawsuit against the company over the allegedly improper accounting procedures. Unlike the SEC, which essentially cleared Apple, the court didn't...

7 years ago 0 Comments
Post Thumbnail

It's not easy being Steve Jobs. When you're not jet-setting around the world, introducing your disappointing EDGE-only iPhone to the European market, you're getting subpoenaed by US securities regulators over a lawsuit concerning stock option backdating. According to reports, El-Jobso has been calle...

7 years ago 0 Comments
Post Thumbnail

In a remarkably candid and defensive statement issued today by key members of Apple's board of directors (including Eric Schmidt and Al Gore -- heard of 'em?), apparently, "We are not going to enter into a public debate with Fred Anderson or his lawyer." It goes on to say: "Steve Jobs cooperated ful...

7 years ago 0 Comments
Post Thumbnail

Well, it looks like the stock options issue that has been pestering Apple for months now may be over. AppleInsider is reporting today that Apple's CFO Fred Anderson has settled with the Securities and Exchange Commission to the tune of three and a half million bucks. Mr. Anderson denies any wrongdoi...

7 years ago 0 Comments
Post Thumbnail

Well, it seems that all of this may blow over...at least for Steve and the Pixar execs. Late last year, Pixar, Steve's other company which he sold to Disney, was forced to take another look at some accounting actions. One of the suggested possibilities was that Pixar's John Lasseter was given a back...

8 years ago 0 Comments
Post Thumbnail

There's some more news today on the stock options story. According to AppleInsider, it has been suggested that Steve gave Pixar director John Lasseter a questionable, backdated stock option bonus. I must admit that I haven't really paid much attention to this story, mostly because it's still specul...

8 years ago 0 Comments
Post Thumbnail

With the Macworld keynote still on the horizon, the last thing Apple needs is a few more lawsuits and federal investigations. The San Francisco Chronicle reports that Apple faces a new shareholder lawsuit along with twin investigations by the San Francisco's US Attorney's office and by the Securiti...

8 years ago 0 Comments
Post Thumbnail

Just when you think Apple's financial woes have begun to recede, Forbes.com alerts us to a slew of recently filed class action lawsuits that all have the big fruit in their sights. First up is yet another complaint alleging that Apple has created a monopoly by tying iTS purchases to the iPod and onl...

8 years ago 0 Comments
Post Thumbnail

It seems that the scandal related to Apple backdating stock options has gotten a little more serious. According to the Financial Times, in 2001 Steve Jobs was granted 7.5 million stock options without the proper authorization of Apple's board of directors, and it now appears that someone falsified b...

8 years ago 0 Comments
Post Thumbnail

Apple's ongoing investigation into its stock option grants has delayed its SEC 10-K filing. The filing, which was due yesterday, may be delayed for as much as a month. If you recall, Apple admitted that employee stock options may have been been backdated. Companies use backdating in order to lower t...

8 years ago 0 Comments
Post Thumbnail

Nancy Heinen, Apple's former general counsel who was just replaced by Donald Rosenberg, has retained a Berkley white collar crime lawyer just in case she needs to defend herself against charges resulting from the whole messy options backdating problem. Heinen abruptly exited her post at Apple last s...

8 years ago 0 Comments
Post Thumbnail

I'm no stock market maven, but something tells me this isn't good. It would seem that Apple's internal audits have found some 'irregularities' in the way the company handed out options. It boils down to mispricing, I believe, so that people could avoid paying huge taxes on their options. Apple has p...

8 years ago 0 Comments