There may not be a big firm associate alive that did not have the taks of investigating out how, when and why options were issued.
Like every financial scandal, it brought forth a ton of securities-related class action litigation.
(who broke the backdating story), Jobs was awarded 7.5 million shares approved at Apple’s August 29, 2001, board meeting. However, because Jobs continued to argue over the point at which they would vest, Apple missed the deadlines it needed to file the right information with the Securities and Exchange Commssion and its auditors.
It took until December that year until terms were finally agreed upon, at which point Apple’s stock price was .01.
News of the Apple backdating scandal didn’t find its way into the public consciousness until late 2006.
And yesterday brought the second biggest backdating settlement of all time.
The Risk Metrics Group's Securities Litigation Watch has compiled a database of all the class action backdating lawsuits and their ultimate outcomes.
You might think drugs and whores sound like a good time - not according to Kato. "holding a plate with a pile of cocaine or other drug, and demanding that he 'party' with him because 'he was bored and lonely.'" Nicholas also made Kato entertain him like a court jester and demanded that Kato take drugs, the lawsuit said.
-Entrepreneur -Philanthropist -Victims' Rights Advocate -Chairman of the Henry T.