Apple Shareholder Lawsuit Get Lead Plaintiff

[HardOCP News]

According to ZDNet, the New York City Employees' Retirement System is now the lead plaintiff in the shareholder lawsuit against Apple. The group is seeking class action status on behalf of other investors in the company.

The company's board has given CEO Steve Jobs a vote of confidence, even as the company said it would take an $84 million charge for misdating more than 6,400 stock options. An internal probe at the company found Jobs and other managers recommended or were aware of certain inaccurate option dates, but did not benefit financially.

 

[Ockie]

How does no one benifit financially but there is an 84 million dollar charge? Money goes "poof!"?

 

[stonedwaldo420]

DUHH!!! That is the way executive pay works.

For example, if an executive does a poor job and gets fired, they pay him an extra $210 million (home depot). Eventually I hope to be an executive. I hear that if you come to work drunk each day, they pay you double time!!!

LOL, finally, we must remember that this is apple. The same folks that insisted that their G3, 4 and 5 were all faster than chips from Intel and AMD…… Apparently the folks at Apple took a few too many design classes and not enough math.