News, info, and opinion by Mac users, for Mac users.

April 24, 2008

legal

Break out your subpoenas: backdating suits are back in fashion

Posted Apr. 24, ’08, 9:18 AM PT by Dan Moren
Category | Legal

Fred AndersonI was realllllly hoping I would never have to utter—or, more to the point, type—the word “backdating” ever again. Then again, I was also hoping that I might be able to some day afford an island shaped like Djibouti. Neither of these things was apparently destined to be.

The Boston Retirement Board, who last September requested access to minutes from Apple board meeting, has now announced that they’re pursuing a suit against Apple for wasting $105 million by granting backdated options for Steve Jobs. While other, similar suits have been dismissed, the BRB claims to have new information gleaned from the above-mentioned documents—that information, however, is not being listed in the complaint, as it is technically confidential, and the court has yet to determine how it should be treated.

To these ends, the court is summoning a number of Apple’s executives and board, both current and former, to testify, including William Campbell, Millard Drexler, Arthur Levinson, Jerome York, Gareth Chang, Edgar Wollard, Fred Anderson (pictured), Nancy Heinen, and Steve Jobs himself. I hope they scheduled Anderson and Jobs on different days, because otherwise sparks are going to fly! Catfight!

[via The Mac Observer]


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