Apple to settle backdating case for $14 million
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Apple to settle backdating case for $14 million

According to court filings this month, Apple also agreed to pay $7.3 million in legal fees and $300,000 to plaintiffs in the federal actions, as well as $1.2 million in legal fees and $50,000 in expenses to plaintiffs. The company also agreed to certain corporate governance changes. On Monday, a federal judge preliminarily approved the settlement and set a final settlement hearing Oct. 31, according to The National Law Journal.

In addition to Apple and Jobs, the defendants are: former chief financial officer Fred Anderson and chief financial officer Peter Oppenheimer; chief operating officer Timothy Cook; former general counsel Nancy Heinen; senior vice president Ronald Johnson and former senior vice presidents Mitchell Mandich, Jonathan Rubinstein and Avadis Tevanian Jr; and board members William Campbell, Millard Drexler, Arthur Levinson and Jerome York.

"Macsimum News" is a proud supporter of Planet Gumbo, which feeds the hungry. We urge you to help them in their efforts.

 
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