Apple Agrees To Settle Stock Option Backdating Securities Class Action Lawsuit For $16.5 Million.
A class action settlement has been reached in a class action lawsuit pending against Apple Inc. (“Apple” or “Defendant”) in the United States District Court for the Northern District of California, alleging, among other things, that Apple (symbol: AAPL) improperly backdated Apple stock options between 2001 and 2006, according to an Apple class action lawsuit news report.
Under the terms of the Apple stock option backdating class action lawsuit settlement, Apple will reportedly pay $14 million to certain shareholders, contribute a total of $2.5 million to corporate governance programs at various U.S. universities and Apple will establish key corporate-governance reforms.
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