Twitter said Monday it accepted Elon Musk’s offer to purchase the company for $44 billion. That gives the billionaire — who is the world’s wealthiest person — absolute control of the social media platform after the deal is approved.
The U.S. Securities and Exchange Commission is being urged to look into Apple’s claim that it doesn’t use nondisclosure agreements to prevent its employees from talking about alleged incidents of harassment and discrimination.
The request comes from a collection of state treasurers who point out that activists accuse Apple of using NDAs for exactly this purpose.
The U.S. Securities and Exchange Commission has blocked Apple’s attempt to hide non-disclosure agreements and other concealment clauses from its shareholders.
The decision comes after Apple investor Nia Impact Capital filed a proposal in September calling for Apple to publish a report detailing “the potential risks to the company associated with its use of concealment clauses in the context of harassment, discrimination and other unlawful acts.”
GT Advanced Technologies, the company that was supposed to make sapphire screens for the iPhone early this decade, has been charged with misleading investors by the SEC.
The SEC’s investigation found that GT and its CEO violated antifraud provisions of the federal securities laws as part of its deal to supply Apple with sapphire. After failing to meet certain performance requirements, GT caused “significant investor harm” by reclassifying over $300 million in debt to Apple. Sadly, the company’s punishment is pretty much just a slap on the wrist.
Gene Levoff, former senior director of corporate law and corporate secretary at Apple, has been released on a $500,000 bond after pleading not guilty to charges of insider trading.
Levoff, who formerly prevented Apple employees from insider trading, is accused of using nonpublic information to buy and sell tens of millions of dollars’ worth of Apple stock. He was fired by Apple last September, two months after being placed on leave.
Apple’s former lawyer who was in charge of preventing employees from insider trading has been charged with insider trading himself.
The Securities and Exchange Commission accuses Gene Levoff, former senior director of corporate law and corporate secretary at Apple, of using inside information to buy and sell tens of millions of dollars worth of Apple shares in order to make a profit or avoid losses.
Apple says it is cooperating with U.S. government agencies investigating the company’s decision to throttle CPU speeds on iPhones with older batteries.
The official statement from Apple this morning comes a day after news broke that the Department of Justice and the Securities and Exchange Commission are investigating whether Apple broke any securities laws.
Investigators at the U.S. Department of Justice and the Securities and Exchange Commission are looking into whether or not Apple violated securities laws when it disclosed that it throttles CPU speeds on some iPhones.
Apple revealed at the beginning of the year that it intentionally lowers the speed on iPhones with older batteries to prevent unwanted crashes. Customers in numerous counties have filed lawsuits against the iPhone maker. Now it appears that the feds are getting ready to weigh in.
Apple CEO Tim Cook received less pay in 2016 as a result of the company missing revenue and profit goals.
In a new filing with the SEC, Apple revealed that other top executives also got less compensation for 2016 as well. Cook only took home $8.7 million last year after being paid $10.2 million in in 2015.