TITLE

Apple's Stock Option Troubles Deepen

PUB. DATE
July 2006
SOURCE
Electronic News;7/17/2006, Vol. 52 Issue 29, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article explains that the stock option trouble is not letting up for Apple Computer Inc., which has been named as a defendant in derivative lawsuits filed in the U.S. District Court for the Northern District of California and the Superior Court for Santa Clara County. Both suits make claims against current and former officers and directors, alleging the backdating of stock option grants, the company said in a statement. Apple said last week that it had discovered "irregularities" in the issuance of certain stock option grants, and is currently conducting an independent investigation into the matter. Apple joins an ever-growing list of tech companies that have come under scrutiny of late for the alleged backdating of stock option grants. The company said that it is currently evaluating its response to the lawsuits.
ACCESSION #
21838641

 

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