Apple shareholders to refile claims in rejected stock options backdating suit

“Attorneys in a shareholder lawsuit against Apple Inc. over its backdating of stock options said Tuesday they plan to refile some of the claims,” The Associated Press reports.

“Judge Jeremy Fogel of the U.S. District Court for the Northern District of California ruled Monday that claims alleging fraud in some proxy statements were filed after the federal statute of limitations had expired,” AP reports. “But he gave the plaintiffs an option to amend their complaint to change their arguments.”

“Fogel ruled that the lawsuit raised some valid arguments but said its claims against Jobs and other officers did not contain enough detail,” AP reports. “Lead plaintiffs’ attorney Mark Molumphy said Tuesday he intends to refile the case focusing on issues the judge identified. ‘The discovery we have so far has made the case stronger,’ he said but declined to explain.”

Full article here.

23 Comments

  1. Why do these people continue to waste everyone’s time and resources to pursue this dead issue. No one was harmed by what happened. They have spent more time and money that what this whole thing is worth.

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