Apple Announces Update Regarding Stock Option Grants

Apple Announces Update Regarding Stock Option Grants

Apple® today announced that it has been notified of derivative lawsuits filed in the United States District Court for the Northern District of California and the Superior Court for Santa Clara County. Both suits make claims against current and former officers and directors with respect to the company’s awarding of stock option grants.

Last week, Apple proactively announced that it had discovered irregularities in the issuance of certain stock option grants and is conducting an independent investigation into the matter. The company is currently evaluating its response to the lawsuits.

Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh. Today, Apple continues to lead the industry in innovation with its award-winning desktop and notebook computers, OS X operating system, and iLife and professional applications. Apple is also spearheading the digital music revolution with its iPod portable music players and iTunes online music store.

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