Apple’s backdating scandal!!

Apple, execs sued for fraud from backdating scandal

67CE4F91-663E-41A2-B82A-DC9073D58BAC.jpg
A lawsuit was brought against several key Apple executives on Friday, accusing CEO Steve Jobs and several others of fraud, in relation to the stock option backdating scandal in recent years. According to a filing with the US District Court in San Jose, Jobs stands with former financial officer Fred Anderson, as well as Nancy Heinen, William Campbel, Millard Drexler, Arthur Levinson, and Jerome York, in addition to the company itself.
Plaintiffs Martin Vogel and Kenneth Mahoney bring the class-action suit against Apple and its executives, due to a stock tumble that occurred after it acknowledged an internal investigation regarding the backdated grants. After two weeks, stock dropped 14-percent – over $7 billion in share value – and the suit is aimed at recuperating those losses.

(Via MacNN)

Advertisements

Leave a comment

Filed under Apple, daily news, interesting

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s