Feeds

Apple pays off pension fund

And promises to behave better in future

Intelligent flash storage arrays

Apple has paid $14m to a New York pension scheme to end a lawsuit over its backdating of share options for Steve Jobs and other executives.

The company has already paid to end investigations into backdating by the Department of Justice and other shareholders.

Apple is paying $14m for shareholders in the New York City Employee's Retirement System.

Apple also promised to improve its corporate governance practises and compliance checks. It will also hand over $2.5m to corporate governance classes at Columbia School of Law and Stanford, MarketWatch reports.

Apple is also picking up the $4m bill that the lawyers have racked up during the four year case.

The company has already coughed up cash to end investigations by the Securities and Exchange Commission in 2009. The SEC was concerned that stock options were effectively back-dated, to a time when they were worth less. This is not illegal in itself, but failing to tell the SEC is considered fraud.

In 2008 Apple paid a similar figure to shareholders in California. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.