Jobs, other Apple execs settle shareholder backdating lawsuits for $14M

Filed under: Misc. Gadgets

var digg_url = ‘http://digg.com/apple/Jobs_other_Apple_execs_settle_shareholder_backdating_lawsuit’; It looks like the Apple options backdating mess is finally drawing to a complete close, as the last of the shareholder derivative suits against Steve Jobs and other Apple execs will reportedly settle for $14M pending the court’s final approval on October 31. Apple has also agreed to reform parts of its options plan, but in the end all of this has basically come out to nothing — particularly since shareholders in a derivative suit sue on behalf of the company, meaning the $14M is being paid by Steve and the other execs’ insurance companies back to Apple, which doesn’t really need it. Oh well, at least we briefly got FSJ out of it, right?

[Via AppleInsider]

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