Apple Wins Dismissal Of Options Backdating Suit

Law360, New York (November 19, 2007, 12:00 AM EST) -- A federal court has tossed another shareholder suit against Apple Inc. alleging chief executive Steve Jobs and 13 company directors deceived investors about profiting from the company’s stock options backdating practices.

Less than a week after dismissing a related suit, Judge Jeremy Fogel on Monday found that the plaintiffs in the derivative action raised allegations of false statements made more than three years prior to filing the suit in the U.S. District Court for the Northern District of California, but permitted the plaintiffs leave to amend....
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