Tag - Stocks
The US Department of Justice will allegedly not pursue charges against Apple for the backdating of stocks for CEO Steve Jobs, as well as several other current and former employees. The Wall Street Journal writes that while neither the US attorney's office nor Apple itself would comment, lawyers for two of the accused confirm that they see "no other outcome", after a full review of the evidence against Jobs et al, and being notified that the criminal inquiry is over.
Stock trading is becoming increasingly popular as a way for individuals to make money for large expenditures, while some individual investors even make a living from the practice either professionally or privately. As Mac systems become more popular, the need for Apple's platform to fit in with all aspects spurred ProSoft Engineering to unveil a new stock monitoring application called Stox. The software, which is published under its consumer brand, JoeSoft, is designed to allow users to track stock portfolios as well as trading transactions. Stox also supplies users with pertinent information about the past, present, and potential future of chosen investments. [corrected, updated]
A group managing the pension fund for New York City's public servants is continuing a lawsuit against Apple, despite a ruling suggesting it should not, reports say. In November, Judge Jeremy Fogel of the US District Court in San Jose determined that the New York City Employees' Retirement System (NYCERS) had no basis for suing Apple over stock backdating, as it hadn't actually suffered damages. Fogel did recommend joining a derivative suit that would not have produced payouts, but NYCERS has instead chosen to re-file a second version of the suit.