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. 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.

  2. 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!

  3. “. . . 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.

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

  4. 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… ” width=”19″ height=”19″ alt=”gulp” style=”border:0;” />

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