Quick! Call Apple Legal … and Get Me a Rewrite of Steve's Annual 'What I'm Thankful For' Memo
The sigh of relief Apple’s leadership breathed earlier this week when a U.S. District Court dismissed a shareholder lawsuit over the company’s back-dating of option awards turned into a panicked gasp this morning when shareholders announced plans to refile it.
Seems that when Judge Jeremy Fogel rejected the suit on the grounds that it was based on statements made more than three years before the case was filed, he offered the plaintiffs the option to amend it with more timely statements. Which is exactly what they plan to do. Said Mark Molumphy, attorney for the plaintiffs, “The discovery we have so far has made the case stronger.”
Hope so. Because if it’s not, Fogel may order dismissal with prejudice.