NEW YORK, July 3, 2008 (LAWFUEL) — The Brualdi Law Firm P.C.
announces that a lawsuit has commenced in the United States District
Court for the Northern District of California on behalf of purchasers
of Apple, Inc. (“Apple” or “the Company”) common stock during the
period between June 29, 2003 and June 29, 2006 (the “Class Period”).
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Apple common stock during the period described above, you
have certain rights, and have until no later than 60 days from June 27,
2008 in which to move for Lead Plaintiff status. Any member of the
purported class may move the Court to serve as lead plaintiff through
counsel of their choice, or may choose to do nothing and remain an
absent class member.
To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss this
action or have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Sue Lee at The
Brualdi Law Firm, 29 Broadway, Suite 2400, New York, New York 10006, by
telephone toll free at (877) 495-1877 or (212) 952-0602, by email to
[email protected] or visit our website at
The Complaint alleges as follows: Apple’s share price dropped 14% in
the two weeks after Apple’s admission of backdating, erasing more than
$7 billion in share value. It’s this loss that the plaintiffs hope to
recover. In December 2006, Apple said that as a result of its internal
investigation, it would restate its financial results to include “an
additional non-cash stock-based compensation expense of $84 million
after tax ($105 million pretax), including $4 million and $7 million in
fiscal years 2006 and 2005, respectively.” The company said it had
found no irregular grants after Dec. 31, 2002.