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Wednesday August 23, 2006 7:31 am

Apple Shareholders Sue Apple

Posted by Yuan Zhao Categories: Apple, Corporate News

AppleAccording to Macworld, Apple shareholders have filed a suit against the Cupertino-based company in light of the ongoing investigation concerning Apple’s stock scandal. According to the suit, Steve Jobs and other executives changed their option-grant dates in order to “reap millions of dollars in unlawful profits.” Recently, Nasdaq has put Apple on notice for not complying with the exchange’s rules and is demanding that the company submit its latest financial report. If the company were to be taken off the stock exchange, stockholders would likely lose out. Until this latest development, Steve Jobs had not been implicated in the matter. We’ll just have to watch how this one plays out.

Read More | Macworld UK

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