Apple announces update regarding stock option grants

Apple today announced that it has been notified of derivative lawsuits filed in the United States 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 with respect to the company’s awarding of stock option grants.

Last week, Apple proactively announced that it had discovered irregularities in the issuance of certain stock option grants and is conducting an independent investigation into the matter. The company is currently evaluating its response to the lawsuits.

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Related articles:
UBS: stock options probe unlikely to hurt Apple – June 30, 2006
Apple joins growing list of companies entangled in stock option ‘irregularities’ – June 29, 2006
Apple to investigate stock option grant ‘irregularities’ made between 1997 and 2001 – June 29, 2006

21 Comments

  1. Yeah, I think we’ve seen the stock bottom out as far as its going to go this year. This is traditionally the time of year when Apple’s offering is at its lowest value, combine that with news of possible backyard deals, and we’ve seen it plummit to the year’s lows. I’d be shocked if it dropped to $50.00 this year.

    I’m not a real financial analyst, but I play one on TV – Oh wait, nope – I don’t play one on TV either.

    Just my thoughts then.

  2. There are two kinds of whores. One sells sexual favors, the other has a law degree.

    I don’t have a lawyer now, but when I did, I didn’t like him either. I always felt that actions took longer than need be, because of a need to drive billable hours.

  3. Sheesh!

    They couldn’t even wait for Apple to finish its internal investigation before trying to sue.

    It must be something like “first post.”

    ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

  4. I’m here to announce that I have recieved compensation in some illegal form against the rules and therefore be turning mylsef in to the local authorities.

    I will begin designing a new form of jail cell as part of my rehabilitation on a Windows PC.

    I’ll have to start eating meat to survive.

  5. “Only to $15.00”

    It’s only a adjustment from a artifically elevated price, it’s best right now that the stock is driven down.

    Because when Apple announces new iPods, new MacTel Pro’s and new features in Lepoard, the stock is going to surge again.

    Especially if the new iPod doesn’t require a computer to download songs, so it allows millions of non computer savvy folks to join the music revolution at a lower price point.

    Just in time for the holidays.

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