Tag archive: stock

Initially filed by the Robbins Geller Rudman & Dowd law firm on behalf of investors at the City of Royal Oak Retirement System in Michigan, Netflix is now dealing with a class-action suit alleging that company officials “issued materially false and misleading statements regarding business practices and its contracts with content providers.”  Defendants specifically identified within the lawsuit include CEO Reed Hastings, chief… Read More

LinkedIn Corp, owner of professional social media website LinkedIn.com, launched its initial public offering on the New York Stock Exchange yesterday. And things went, let's say, freakin' awesome — at least if you were one of the lucky few to get in on the company's stock offerings before the went public. As soon as the opening bell rang, the IPO price popped around 90 percent, and that was only the beginning of the cash… Read More

According to media reports, the Securities and Exchange Commission is looking at an 18-year-old male as the originator of an false story earlier this month that Apple CEO Steve Jobs had been rushed to a hospital after suffering a heart attack. According to Bloomberg, the SEC is still investigating motive for the actions, but does not currently believe the teenager was trying to manipulate Apple's stock price or profit from the false… Read More

Remember a couple years ago when it seemed like every major technology company—and almost every major U.S. corporation—was fervently auditing its books looking for any financial irregularities that, under new federal legislation, could see their executives facing criminal charges and even jail time for mis-stated financial records? The investigations led to companies like Dell and Take-Two taking major financial hits as the… Read More

Apple has quietly confirmed that both its UK and U.S. online stores are out of stock of the iPhone, although individual Apple retail stores and retail locations run by its carrier partners AT&T and O2 may still have units in stock. Although Apple employees and official spokespersons refused to give any reason for the shortage or to even speculate on when handsets might be back in stock, the shortage is widely being views as a sign… Read More

Canada's Research in Motion (RIM), makers of the popular BlackBerry mobile email and smartphone devices, is the latest company to be bruised by investigations into the granting of stock options and the impact of those options on corporate financial statements. In an announcement today, RIM says it will restate its financials going as far back as its 2004 fiscal year to correct reporting errors in the way stock option grants were… Read More

Former Take Two Interactive CEO and chairman Ryan Brant has plead guilty to charges that he backdated stock option grants to increase their value to himself, other Take-Two executives, and company employees. Brant plead guilty to first degree falsification of business records and will pay a fine of $7.26 million and serve five years' probation. However, the guilty plea enables Brant to avoid prison time. The conviction marks the… Read More

A story from The Reporter published on the Law.com Web site has sent the share price of Apple Computer downward, claiming that federal prosecutors are “looking closely” at “apparently falsified” documents in an ongoing probe of the company's stock option grants. The story also reports Apple CEO Steve Jobs has hired his own legal representation in the matter, separate from Apple's corporate attorneys at… Read More

Apple isn't the only company being forced to look back through its books at the way stock option grants were handed out to employees and executives over the last few years—more than 80 companies are being probed by the SEC or conducting their own investigations, including Computer Associates, Altera, CNET Networks, Intuit, RSA Security, VeriSign, and others—but Apple seems to be the one company everyone's watching.… Read More

“Investors who hold Apple shares as of Feb. 18 will receive one additional share of stock for every share of Apple they own. The stock will begin trading on a split-adjusted basis starting Feb. 28. Apple's stock, which earlier this month rose to a new 52-week high of $81.99, has been on a tear in the past year, rising fourfold. To attract new investors, companies often split their stock if it reaches a certain level, even though… Read More

“The stock is up a bit on the fact that nobody liked Carly's leadership all that much,” said Robert Cihra, an analyst with Fulcrum Global Partners. “The Street had lost all faith in her and the market's hope is that anyone will be better.” Fiorina, the only female CEO at a company in the Dow Jones industrial average, had been with HP since 1999. But the company's controversial deal to buy Compaq in… Read More