Manhattan District Judge Jennifer Rochon stated that the iPhone maker paid salaries in its 2023 authorization statement "exactly" as required by securities law and the regulations of the U.S. Securities and Exchange Commission.
Apple CEO Tim Cook. Photo: Reuters
Judge Rochon also found no evidence that Apple's board of directors acted improperly in its compensation practices, the plaintiff stated.
The plaintiffs allege that in 2021 and 2022, Apple awarded performance-based stock options worth $92.7 million and $94 million, respectively, to Tim Cook and four other executives, even though their compensation committee intended to award only $77.5 million each year.
Earlier on February 6th, Apple persuaded a federal judge to dismiss a lawsuit filed by a Silicon Valley startup alleging that it illegally monopolized the US market for its heart rate tracking apps for the Apple Watch.
Mai Anh (according to Reuters, PA)
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