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Apple sued over stock option grants

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By LC Angell

Contributing Editor
Published: Thursday, July 6, 2006
News Categories: Apple

Apple has disclosed that two derivative lawsuits have been filed against its current and former officers and directors relating to the company’s awarding of stock option grants. The suits were filed in the United States District Court for the Northern District of California and the Superior Court for Santa Clara County. Last week, Apple proactively announced that it had discovered irregularities in the issuance of certain stock option grants. The company is conducting an independent investigation into the matter and said it is currently evaluating its response to the lawsuits.

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Has Apple always been in court this often or is this a new trend?  I’ve been coming to iLounge since Dec of last year and it is not even a surprise anymore to see a new lawsuit against apple.  Is this really normal?

Posted by 3rdEye on July 6, 2006 at 11:42 AM (PDT)

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