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VIRTUALISATION Settlement in Apple executive stock options suit
VIRTUALISATION Settlement in Apple executive stock options suit | Settlement in Apple executive stock options suit |
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| by Stephen Withers | |
| Friday, 12 September 2008 | |
  
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But it seems Apple failed to properly record the transactions. Multiple suits were brought in various jurisdictions against the executives, and the cases were subsequently aggregated. Among the defendants were CEO Steve Jobs, CFO Peter Oppenheimer, COO Timothy Cook, former CFO Fred Anderson, and former general counsel Nancy Heinen. The $US14 million will be funded by insurers, not Apple or the individual executives. The settlement also requires Apple to address corporate governance issues as well as making changes to the way it grants and records stock options and related matters. This week, the judge hearing the case gave preliminary approval for the proposed settlement, with a final hearing scheduled for October 31. |
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