U.S Justice Department Spares Steve Jobs et al in Stock Backdating Case


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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