Third shareholder lawsuit against Apple
updated 08:10 pm EDT, Sat August 5, 2006
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.
a lawyers...
08/05, 11:02pm reply
...always thinking of the little man.
shawnce
Fresh-Faced Recruit
Joined: Nov 2000
Get real
08/06, 04:37am reply
Those desperate leeches are as good as dead in the water with this pathetic case.
jarod
Fresh-Faced Recruit
Joined: Apr 2005
Re: get real
08/06, 12:16pm reply
They're only dead in the water if a judge rules that some other lawsuit should get anti-trust status.
And the lawyers aren't looking out for the 'little man' per se, they're looking out for the stockholders, who, you know, are the ones who are hurt by these types of maneuvers. (I know, I know, jarod, its their own fault if they sold their apple stock back when these things happened when they should've held on because EVERYONE knew it was going to go up to $80 a share... but, you know, not all stockholders are as wise as you, and actually base their decisions on supposedly truthful and unfalsified quarterly reports).
LouZer
Fresh-Faced Recruit
Joined: Nov 2000
Re: re: get real
08/06, 03:18pm reply
Well... when Apple's new core 2 laptops, screaming desktops not to mention the iPhone/iPod range... emerges this fall, expect 80 to look like a bargain. BUY!
YangZone
Fresh-Faced Recruit
Joined: May 2000
yep..
08/06, 03:43pm reply
I told my friends to buy at $42, they didn't. I told them to buy at $50 (twice), they didn't. But both times, when the sock was at $80, and now at $69, they complain that Apple doesn't provide proper guidance for their brokers to advise them properly (I'm not kidding). All the while, the stocks, with proper guidance, that their brokers suggested they buy, lost 40% of the value.
Yet, they keep listening to their broker... This may explain some of these maneuverings - face it, 85% of all people are plain dumb. This percentage is even higher when it comes to self-proclaimed 'investors'.
ZinkDifferent
Fresh-Faced Recruit
Joined: Jan 2005
I agree
08/06, 06:56pm reply
85% of all people are plain stupid.
Investing, like running a business, requires YOU (the investor) to know WTF it is you're placing your money in! Analysts are nothing but EMPLOYEES ON COMMISSION! All they care about is THEIR COMMISSION, not your profits! So WAKE THE F**K UP ALREADY PEOPLE!
jarod
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Joined: Apr 2005