World of Apple
This is a static archive of World of Apple, published by Alex Brooks between 2005 and 2015. Nothing here is live or updated since original publication.

Jobs and Other Apple Execs Summoned Over Latest Backdating Charges

Apple CEO and other members of Apple's leadership have been summoned to appear in front of a court as part of a new lawsuit about the companies ongoing options backdating scandal.

The Boston Retirement Board issued summonses against Jobs and other Apple directors, and/or officers: William Campbell, Millard Drexler, Arthur Levinson, Jerome York, Gareth Chang, Edgar Wollard, Fred Anderson and Nancy Heinen.

The summons were put in place by the Superior Court of California, County of Santa Clara and relate to case number 1-08-CV-110403.

The Boston Retirement Board is attempting to prove that Apple wasted more than $105 million on the increased value of backdated stock options. The plaintiffs claim to be basing the suit of new information obtained from confidential records.

A report by FindLaw.com explains that The Boston Retirement Board, "can't put those details on paper in the new complaint because the court has not ruled yet on how the confidential information should be treated."