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LipidLabs Announces Corporate Governance
Corporate Governance |
2007/03/22 22:46
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LipidLabs announced the approval of its corporate governance guidelines for its management and board of directors. The Company has approved a code of conduct and code of ethics, as recommended by the Sarbanes/Oxley Act. In addition, the Company is currently seeking to add independent directors to its Board of directors and audit committee. Board Members serve the interests of the Company and its stockholders as highly qualified candidates with the personal integrity, knowledge, skills, expertise, diversity of experience, ability to make independent analytical inquiries, understanding of the Company’s business environment and willingness to devote adequate time and effort to serve as members of the Board. "We have initiated a program of corporate compliance intended to create a strong corporate governance function within LipidLabs," stated President Tommy Cloud. "We view corporate governance as an essential protection for our shareholders and as an essential support for the universities from whom we license our new technologies. Each stakeholder needs to know that good corporate governance controls are in place as we develop a culture of transparency at LipidLabs," he added. |
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Apple's Steve Jobs investigated for fraud
Corporate Governance |
2007/01/14 00:55
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The US Attorney's office in San Francisco said Friday it is conducting a criminal probe into the option backdating practices of Apple Inc. and specifically an option grant given to CEO Steve Jobs in 2001 which was considered one of the largest option packages in corporate history, according to the San Jose Mercury News. Apple originally claimed the 7.5 million stock options were given to Jobs in October 2001 but last month, the company admitted the meeting in which the package was finalized did not take place until December that year.
Apple has said that Jobs and the company's current executives were unaware of any backdating, but between the date of the fictious October meeting and the actual meeting in December, Jobs' stock appreciated $20 million dollars.The US Attorney's announcement comes less than two weeks after Apple completed an internal probe into alleged stock option manipulation by its senior managers, including Jobs. The report purported to clear its executives of any wrong-doing and concluded that Jobs did not "financially benefit" from stock options. |
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Apple stock options probe reports no misconduct
Corporate Governance |
2007/01/02 03:53
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| Apple Computer, Inc. Friday disclosed the findings of an internal report into alleged stock option manipulation by senior managers, including CEO Steve Jobs, purporting to clear its executives of any wrong-doing and concluding that Jobs did not "financially benefit" from stock options, despite knowledge of favorable grant dates. Apple was facing a US Securities and Exchange Commission (SEC) probe in connection with various alleged securities violations, including a failure to properly disclose option backdating. After concluding the internal investigation, Apple restated its yearly financial statements with the SEC, completing a three-month probe. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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