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Option grants lawsuits
A new shareholder derivative complaint has been filed against Apple, following the company's recent announcement that it has found additional stock irregularities. Keller Rohrback L.L.P. today announced that a shareholder derivative complaint has been filed in the United States District Court for the Northern District of California on behalf of nominal defendant Apple and against certain Company executives and board members. The Complaint alleges that the defendants breached their fiduciary duties and colluded with one another to: (1) improperly backdate grants of Apple stock options to various Apple executives in violation of the Company's shareholder-approved stock option plans; (2) improperly record and account for the backdated stock options in violation of GAAP; (3) improperly take tax deductions based on the backdated stock options in violation of the Tax Code; and (4) produce and disseminate to the Company's shareholders false financial statements and other SEC filings that improperly recorded and accounted for the backdated option grants thereby concealing the improper backdating of stock options.
Forums Roundup August 4
Forums roundup: Members discuss pictures posted by a user depicting a melted MacBook, which reportedly overheated..... Others look at Apple's recently extended coverage on faulty iMac G5 first generation computers suffering video problems as well as discuss the legitimacy of the hacked MacBook video posted by hacking experts pointing out a flaw in all computers.... A thread outlines a user's experience loosing a MacBook Pro, then purchasing a new one which was colder, despite being built earlier.... Meanwhile, members have posted wish lists for the specs on a MacBook "Light" ultra-portable computer.
RCA M5000 Player
With no real fanfare to mark the occasion, the M5000 series of digial audio players has shown up on RCA's website. This is clearly targeted at the lower end of the spectrum with 1GB or 2GB of flash memory to tide you over. Surprisingly, media support is unusually broad for this class of player: MP3 and WMA audio are accompanied by support for BMP, GIF, JPEG, PNG, and TIFF. Video support is relatively unique too with AVI and MOV as options (one of the few times you'll see Quicktime support outside of an iPod), though on a 1.8" screen video playback is more a bonus than anything. Those who run out of content to play can take advantage of the by now obligatory FM tuner and recording functions. No price is given on the product page, but RCA's budget focus likely means the M5000 will undercut the iPod nano at the shops. Full photo after the jump.
MMO dev volunteers
The gaming industry can be tough, as this posting on Craigslist would seem to imply. Loud Ant Software is searching for programmers who will work without salary until the completion of the PC MMORPG Thrones of Chaos, which they claim is already 90 percent done. Compensation would come in the form of a commercial license for the game's engine, and for five programmers, five percent of the game's earnings and a paid position at Loud Ant.
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