Friday, August 25, 2006

Apple's misdated options total $1 billion?

Is there an ugly worm in Apple?

UD Net UK reports:

Life for Apple's lawyers became even busier this week after a fourth lawsuit over stock options allegedly granted on the wrong dates was filed.

On Tuesday, lawyers acting on behalf of Apple shareholders filed actions against the company claiming that it "manipulated options grants to sell more than US$1bn in company stock",
according to Bloomberg News.
It appears that the bad behavior was contagious and infected hundreds, maybe thousands of companies who then failed to inform their shareholders of their "in the money" option grants. Meanwhile at Rambus Inc., the party line is that CEO Geoff Tate was the sole member of the option committee . . . the implication being that he acted alone. I may be a Donkey, but I am not buying that one . . .

Hat tip to FinzToRite for the link.

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