Fair enough except that no decision was ever made as to whether or not Apple was liable because plaintiffs could prove no damages. So the question as to their “ethical” lapses was never answered. Now they’re being investigated for possibly misleading the public on Steve-O’s illness to bolster the stock price? Who is running the company? The Clintons? Shenanigan after shenanigan from these people. If it walks like an ethical trainwreck and it talks like an ethical trainwreck...........
Kind of hard to prove damages since at the time, AAPL stock was rocketing into the stratosphere.
It was answered by the SEC. The only unethical action was by one lawyers, and her and the CFO who didn't catch her actions have been taken care of. Apple basically handed them over to the SEC after its own internal investigation. You forget that backdating is legal. How it gets reported is the only issue, and the rule change caused a lot of confusion that hit a lot of companies.
The civil suits were standard ambulance chasing. One of the suits was by a guy named Martin Vogel, who had sued Apple a couple years before only to have it thrown out with prejudice (can't ever refile). He was just sitting around waiting for an excuse for another go at the Jackpot Justice Lottery, and the backdating gave him one.