The legal woes over backdating allegations are only beginning for Apple and company. An ongoing case is presently under seal at the Santa Clara County Superior Court, while the plaintiffs’ lawyer, H. Adam Prussin, says he is acting on behalf of shareholders, and using an approach “similar but not identical” to that of other lawsuits, including the 19 cases that were settled last week.
Prussin claims that in 2007 he received a court order against Apple requiring the company to handover books and other records of backdated stock options. According to Prussin, “We have details about transactions involved that I don’t think anyone else has. We know who did what to whom and when. Plaintiff in the other cases did not do an examination of book and records.” If all of this leaked information is true, this could explain the prior case against Apple and CEO Steve Jobs, never making it to trial.
Similar to past backdating lawsuits, the case lists Apple, Steve Jobs, six current and former directors, as well as former CFO Fred Anderson and former general counsel Nancy Heinen as defendants. It is said that this case targets Steve Jobs specifically, stating that he is the “center of the backdating scheme.” It also states that Apple’s Board of Directors went “out of its way to shield Jobs from any responsibility.”
Apple’s spokeswormen, Susan Lundgren, says Apple does not comment on pending litigation.
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