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You are here: MacNN Forums > Community > MacNN Lounge > www.applesecuritiessettlement.com

www.applesecuritiessettlement.com
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Eug
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
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Jan 20, 2011, 04:17 PM
 
Got this in the mail the other day:

www.applesecuritiessettlement.com/

Plaintiffs allege that Apple issued false and misleading financial statements regarding the amount of compensation paid to Apple executives and its accounting for certain past stock option grants. These alleged misstatements, Plaintiffs claim, artificially inflated Apple’s stock price between August 24, 2001, and June 29, 2006, both dates inclusive (the “Class Period”). Plaintiffs seek money damages for alleged violations of federal securities laws.

Anyone here registered with them? If yes or no, why or why not?
     
Oisín
Moderator Emeritus
Join Date: Mar 2004
Location: Copenhagen
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Jan 20, 2011, 04:25 PM
 
Originally Posted by Eug View Post
Anyone here registered with them? If yes or no, why or why not?
Since you asked for reasons for both possibilities:

No, and because I’d never heard of it before, nor have ever had anything to do with Apple stocks.
     
turtle777
Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
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Jan 20, 2011, 04:31 PM
 
I'm very torn about all these lawsuits.

I get one of these every six months, and in most cases, I don't feel like I have been harmed.
I'm afarid that participating in it only reinforces those trial lawyer scumbags that make up all this crap to keep their profession alive.

I wish the US would finally fix this broken tort law.

-t
     
Eug  (op)
Clinically Insane
Join Date: Dec 2000
Location: Caught in a web of deceit.
Status: Offline
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Jan 20, 2011, 04:35 PM
 
Oisin, I hadn't heard of them either until today. They at least seem legit, as the mail didn't actually come from them directly. It came from my brokerage company (a large Canadian bank), with whom I had bought (then sold) some Apple shares some years back.

Even if I wanted to register, I wonder if I still have the documentation of my AAPL ownership. Hmmm....

turtle, I too am torn. But then again, I didn't appreciate Apple's not-so-above-board practices about some of their options awards way back when either.
     
macforray
Dedicated MacNNer
Join Date: Aug 2005
Location: Central New York
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Jan 20, 2011, 04:44 PM
 
Let's see... I own Apple stock that I bought at $83 and now it's at.... well, never mind. I certainly was not mislead.
macforray
     
-Q-
Moderator
Join Date: Jan 2001
Location: Atlanta, GA
Status: Offline
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Jan 20, 2011, 05:10 PM
 
Got a similar letter - while it's probably legit, there's no benefit to participating in a class action lawsuit unless you're the legal firm filing.
     
cjrivera
Professional Poster
Join Date: Aug 2001
Status: Offline
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Jan 20, 2011, 06:00 PM
 
Originally Posted by -Q- View Post
Got a similar letter - while it's probably legit, there's no benefit to participating in a class action lawsuit unless you're the legal firm filing.
That's usually the case with class action lawsuits and their scumbag lawyers.
"It's weird the way 'finger puppets' sounds ok as a noun..."
     
bstone
Baninated
Join Date: Jun 2000
Location: Cambridge, Chicago, Jerusalem (school/home/heart)
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Jan 21, 2011, 02:12 AM
 
I got it also. I bought apple in 2002 while at something like 23/share. I read through the settlement and it appeared to pay a 6¢ penalty to stockholders. I threw it out.
     
Paco500
Professional Poster
Join Date: Apr 2000
Location: Berkshire, UK
Status: Offline
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Jan 21, 2011, 04:36 AM
 
No. As an Apple share holder, I fail to see how my participation in a lawsuit against the company that could lead to a financial settlement benefits me.

This is pragmatic thinking. On the idealistic side, just because I've made a good bit of money from Apple stock, it doesn't mean I agree with the way they went about some things. Ends justifying the means an all that.

By that same token, any monies gained from a class action law suit would be similarly tainted.
     
nataliebokum
Fresh-Faced Recruit
Join Date: Mar 2011
Status: Offline
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Mar 11, 2011, 08:45 PM
 
How do I post my settlement forms online?
     
   
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