NEW YORK AP – Apple Inc. CEO Steve Jobs and several other senior executives and board members have agreed to settle a lawsuit that claimed the company was damaged by their role in Apple’s mishandling of stock option awards.
Because of the structure of the lawsuit, insurers representing Apple’s directors and officers will pay the iPod and Macintosh maker $14 million. The settlement is designed to repair damage to Apple that the shareholders, who are suing on behalf of the company and not themselves, claimed the company suffered because of the stock options tampering.
