Judge Gives Initial OK To Apple Backdating Deal

Law360, New York (September 10, 2008, 12:00 AM EDT) -- A federal judge has granted preliminary approval to a $14 million settlement between Apple Inc., several of its highest executives — including CEO Steve Jobs — and a group of civil plaintiffs in a lawsuit over a stock option backdating scheme.

Judge Jeremy Fogel of the U.S. District Court for the Northern District of California gave an initial thumbs up Monday to an agreement that will see Apple executives and directors pay $14 million to the company, according to the docket.

Apple also agreed to institute...
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