Apple sued by pension fund over securities fraud
The Hawaii Structural Iron Workers Pension Trust Fund has filed suit against Apple accusing the company of hyping the introduction of the Power Mac G4 Cube and iMac in order to keep Apple’s share price high, as noted by MacNN. Four Apple executive sold 370,000 shares for US$22 million just prior to Apple’s announcement that sales of the G4 Cube and iMac had been lagging far behind expectations.
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