Feeds

Apple pays off pension fund

And promises to behave better in future

3 Big data security analytics techniques

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. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Record labels sue Pandora over vintage song royalties
Companies want payout on recordings made before 1972
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Ex–Apple CEO John Sculley: Ousting Steve Jobs 'was a mistake'
Twenty-nine years later, post-Pepsi exec has flat-forehead moment
Number crunching suggests Yahoo! US is worth less than nothing
China and Japan holdings worth more than entire company
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.