Earlier this month, we reported that disgruntled Apple shareholders had filed a class-action suit against Steve Jobs and other Apple bigwigs. They had alleged that the defendants including Steve Jobs were complicit in the backdating of stocks from 1997 till 2001 and had benefited from it wrongfully - at the expense of poor shareholders.

But the U.S Justice Department has decided against pursuing the allegations against Jobs and Co. Previously, an internal probe at Apple and an SEC inquest had both given a clean chit to Steve Jobs in this matter.

Image Credit: ShanaLogic 

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case, apple, legal, law, class-action lawsuit, steve jobs, shareholders

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