The Inquirer-Home

Apple shareholder sues Steve Jobs over wage-fixing scheme

Allegedly cost Apple investors money
Thu Aug 14 2014, 16:30
Apple's Steve Jobs

AN APPLE INVESTOR has filed a class-action lawsuit against the firm's late CEO Steve Jobs, alleging that his actions lost money for shareholders.

The shareholder is concerned that he will not make as much money out of Apple as he might otherwise, due to financial penalties the firm likely will have to pay for an alleged wage-fixing scheme that Steve Jobs allegedly entered into with a number of other parties in the IT industry.

The alleged hiring agreement has led to a lawsuit already, and has already seen the late Apple CEO's presence requested in court.

This virtual appearance in terms of email content has been opposed by Apple and other firms named in the hiring - or rather, not-hiring - agreement court action.

"Plaintiffs' only purpose for offering this testimony would be improper - to cast Mr Jobs in a bad light," wrote Apple, Google, Intel and Adobe in a court filing in April. "Free-floating character assassination is improper."

The case has been lurking since 2010 and has painted Jobs as a leader of the alleged wage-fixing scheme. In 2013 a US court turned attention to it, and directed Apple CEO Tim Cook to provide a deposition, because he would have been privy to Jobs' alleged machinations. Apple has recently suggested settlement of the case, but even more recently this was rejected by the presiding judge.

Now an investor class-action lawsuit has been filed by shareholder R Andre Klein. Klein is seeking damages to be determined at trial, and has filed on behalf of all shareholders.

"Jobs' conduct is a reminder that even widely respected businessmen can knowingly commit unlawful acts in the zealous pursuit of profits," says the complaint, according to a report at Sky News.

"In this case, Jobs and the other individual defendants knowingly caused Apple to enter into agreements that violated California law and US antitrust laws."

Apple does not comment on legal matters and did not comment on this one when The INQUIRER asked. µ


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