Jobs and Apple settle backdating lawsuit for $14 million

That’s much less than what Jobs and other execs probably made off the backdating, but that’s because they’ve already dished out $84 million to properly account for stock option awards that were given to executives with cherry-picked grant dates.

The execs won’t have to pay any of it because of their insurance protection. Furthermore, the shareholders won’t be getting the cash, the corporation will, because this was a “derivative” lawsuit that sought compensation on behalf of the company.  Shareholders have attempted to sue on their own behalf, but it hasn’t worked because Apple’s stock has gone up since the backdating was revealed in ’06.

Source:  AP


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