The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Investors File New Suit Against Apple for Options Irregularities

Investors File New Suit Against Apple for Options Irregularities

by , 7:45 PM EDT, August 4th, 2006

A new law suit has been filed against Apple Computer by shareholders over the irregularities in stock option grants. The suit names Apple and certain executives and board members, and alleges that the defendants improperly backdated stock options, took tax deductions in violation of tax codes based on the options, and issued false financial statements to shareholders.

The law firm of Keller Rohrback L.L.P. is representing Apple shareholders in the case, which it filed in the United States District Court for the Northern District of California.

Apple previously announced that it was conducting an internal investigation into the stock option grant irregularities, and that it had retained independent counsel to handle the investigation and reporting. Earlier today, the company said that it may have to restate some financial statements based on the findings. It also will likely have to postpone filing Form 10-Q for the financial period ending on July 1, 2006.

In early July, two lawsuits were filed against Apple for its handling of stock option grants.

Representatives from Keller Rohrback L.L.P. were unavailable for comment.

Apple Computer is currently trading after hours at US$68.33, up 0.03 (0.04%).


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent Headlines - Updated July 28th

Fri,9:03 PM
3 Free iOS Apps To Help You Find Something To Watch
8:57 PM
9 Swift Resources for iOS 8 Developers
7:39 PM
OS X and iOS Application Compatibility Table
6:35 PM
Best News in the Verse: Firefly Cast Reuniting for Firefly Online
6:26 PM
Bose Sues Apple Acquisition Beats for Patent Infringement
5:11 PM
iZZi Slim 4-Lenses-In-One Photo Kit: $95
3:44 PM
Take Control of Yosemite Beta Testing Released
1:42 PM
Judge Cote Calls Apple Ebook Settlement Unfair to Consumers
1:15 PM
TMO Daily Observations: 2014-07-25
10:24 AM
comiXology Intros DRM-free Digital Comic Backups
8:45 AM
OS X: Repair Home Folder Permissions
Thu,8:48 PM
Hedge Fund: ‘Apple Might Become Obsolete in 2-3 Years’
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!