In re Apple Inc Securities Litigation
Case # | 06-cv-05208 |
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Case Name | In re Apple Inc Securities Litigation |
Jurisdiction | US District Court for C.D. CA |
Summary | Lawsuit involves fraudulent practices by Apple executives and directors, who backdated grants of stock options to themselves and other Apple employees. By hiding these grants from shareholders, Apple executives were able to enrich themselves. Once this practice of backdating came to light, Apple stock plunged, causing massive losses to shareholders. |
Final Approval Date | 05/17/2011 |
Result |
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Dismissal of Last Appeal | N/A |
Attachments | Docket Report.pdf Corrected First Amended Consolidated Class Action Complaint.pdf Preliminary Approval Order.pdf Amended Preliminary Approval Order.pdf Motion for Attorneys' Fees.pdf Final Approval Order.pdf |
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Objection of George W. Sibley
Objectors | George W. Sibley |
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Signers | George W. Sibley |
Attorneys | Gary W. Sibley |
Summary |
NOTE: After the claims period was extended, Objector Sibley withdrew his objection. |
Attachments | Objection of George W. Sibley.pdf Notice of Withdrawal of Sibley Objection.pdf Motion to Withdraw Sibley Objection.pdf |
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Objection of Patrick Pezzati
Objectors | Patrick Pezzati |
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Signers | Theodore H. Frank |
Attorneys | Theodore H. Frank |
Summary |
NOTE: After the claims information was made available, it became clear that the fund would be exhausted by class members and no money would be diverted to cy pres recipients. Objector Pezzati dropped this portion of his objection, while still maintaining that it was improper for the settlement to have been structured this way. NOTE: Claiming a $2.5 million improvement in the value of the settlement to the class, Objector Pezzati motioned for attorneys' fees for his Center for Class Action Fairness counsel of $297,916, plus an objector incentive award of $1,000, to be paid out of class counsel's fee award. The Court found the CCAF's claims to have expended 104 hours on the case to be dubious (Final Approval Order, page 8) but did find that their improvement to the settlement warranted an award of fees. The Court found that $87,000, plus a $1,000 objector incentive award, to be paid by the Defendant, would be appropriate. In exchange for this award of fees, Objector Pezzati waived his right to appeal the Final Approval (Final Approval Order, page 8). |
Attachments | Objection of Patrick Pezzati to Motion to Amend Preliminary Approval.pdf Plaintiff's Response to Pezzati Objection.pdf Objection of Patrick Pezzati to Motion for Attorneys' Fees.pdf Supplemental Objection of Patrick Pezzati.pdf Plaintiff's Response to Supplemental Objection of Patrick Pezzati.pdf Declaration of Theodore Frank in Support of Objection.pdf Motion for Attorneys' Fees for Objector Pezzati.pdf Plaintiff's Response to Motion for Attorneys' Fees for Objector Pezzati.pdf Reply in Support of Motion for Attorneys' Fees for Objector Pezzati.pdf |
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