Apple found itself in the middle of a Department of Justice and Securities and Exchange investigations in 2006 following the disclosure that some stock option grants had been improperly backdated between 1997 and 2001. Both investigations were eventually resolved leaving Apple’s former general counsel Nancy Heinen facing SEC-related charges.
While the DOJ didn’t file any charges against Apple or its executive team, that didn’t stop several organizations from filing lawsuits against the company over claims that the stock option backdating diluted the value of the shares they had purchased.
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The NYCERS settlement is awaiting court approvale which could come as early as Thursday.
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