Apple won a lawsuit accusing it of overpaying CEO Tim Cook and other executives, as a U.S. District Judge dismissed the case, confirming Apple's accurate disclosure of pay methods.
Apple has won a lawsuit accusing it of overpaying CEO Tim Cook and other executives by tens of millions of dollars. The lawsuit was filed by a pension fund affiliated with the International Brotherhood of Teamsters, alleging that Apple had miscalculated the value of performance-based stock awards. However, U.S. District Judge Jennifer Rochon dismissed the case, stating that Apple had accurately disclosed its pay methods in its 2023 proxy statement, in line with securities laws and U.S. Securities and Exchange Commission rules.
February 08, 2024
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