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
Stock goes down to $15.00 again, I’m buying it this time.
All them lawyers,
they need their fees.
Or else they’re sunk.
The mortgage, kerplunk.
15.00? OOhhhKAY!
Anyone else on meds today?
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.
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.
Sheesh!
They couldn’t even wait for Apple to finish its internal investigation before trying to sue.
It must be something like “first post.”
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.
Only to $15.00 ???
I’m sure that they will go much lower. Serves them right for suing me.
Jason D. O’Grady
http://www.powerpage.org
“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.
Why is it a crime to make money in this country? For the love of PETE!!! Let people make some money again. Go after criminals that want to hurt people not people that make big money. STOP IT!
Yup. That’s it. Apple’s going out of business.
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I wonder if I’ll get Martha Stewards old jail cell?
Maybe she left a batch of jail house cookies under the sink.
Yummmm, Liverwurst and peppercorns.
<b>Hey Steve, your butts mine, come out during the first shower call or else I’ll meet up with you in rec pen and I’ll won’t be gentle.
Hahahaha
I’ve taken the liberty of forwarding those text links in the article copy above for derivatives and stock options software directly to Apple Legal. You’re welcome.
July 19 is when we will know which way AAPL will move the next morning. The stock options kerfuffle is just a fart in a hurricane. If the Macs start making significant market growth, all the rest is noise.
U.S. viewers check out the History Channel right now.
Hey Steve! Steve Jobs!
Holy Cow, it’s amazing to see you in here!
Hey look Steve can you lend me a few packs of smokes, these guys, you see I owe them.
No? Oh come on Steve! We are are buddies, look, I got a Apple tattoo, yep did it myself with a razor and some ashes.
please Steve, they are going to kill me unless I pay them the smokes. Steve!
Steve! Stop, please come back, Steeeeeeevvvvvveee!
“. . . yep did it myself with a razor and some ashes.”
Wuss. In my day, we had nothing more than anger and a rusty butter knife to make Apple tattoos. We bled six colors because of the tetanus and hepatitus.
Dang. I deleted myself.
NEWS RELEASE, Hollywood:
Did QuickDraw retires with his friend, Baba Looey angry that Huckleberry Hound actually won an Emmy.
Apple falls to $15??? Only problem is they have almost $10 a share in CASH in the bank. Oh yeah, and the company isn’t being sued by lawyers, a derivative suit is brought by shareholders against former directors. So, if there are damages, the company actually GETS money from the suit. and LinuxGuy is right, just WATCH THE MACS, watch the macs. That’s where the leverage is right now…
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Don’t you love our legal system? There hasn’t yet even been any disclosure about exactly what the “irregularities” were and the lawsuits are already filed.
Lawyer: “Your honor, we don’t know anything about what they did, but we know they did something wrong. We are asking for damages in the amount of ONE BILLION DOLLARS!!!!”
BTW, fo rthose of you outside the US, the lawyers in these types of lawsuis typically get 33% of the damage award, so there is a bit of an incentive to file these things. All they need to do is find one shareholder to attach their name, and they don’t necessarilly need your permission. Just ask Jason Tomczak about the iPod Nana scratch lawsuit.