Friday, November 16, 2007

Judge dismisses shareholder backdating suit against Apple execs

A California judge on Wednesday granted Apple's motion for dismissal in a stock options backdating lawsuit brought against chief executive Steve Jobs and thirteen other current and former members of the company's leadership, but is allowing the investors to refile an amended complaint as part of a derivative suit.

read more | digg story

---------- FIX YOUR THINKING COMMENTARY ----------

Apple's stock price didn't fall as a result of the backdating, which is what these shareholders claims were about.

In fact, with the news of this dismissal, I would venture to say that Apple will see a small uptick ... maybe the shareholders should be investigated for bringing up a scandal so as to worry investors knowing the case would be dismissed and therefore inflating the stock price. Hmmmmmmm

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