Fired Apple lawyer released on $500,000 bond

By

Apple sign
Gene Levoff is accused of insider trading while at Apple.
Photo: Milo Kahney/Cult of Mac

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.

SEC charges ex-Apple lawyer with insider trading

By

money
Former Apple lawyer Gene Levoff used confidential Apple earnings data to make millions.
Photo: Ste Smith/Cult of Mac

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.

Feds have questions about iPhone throttling. Apple has answers.

By

iphone battery
Apple will replace your battery for just $29.
Photo: iFixit

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.

Apple faces DoJ probe over throttled iPhones

By

iphone battery
$29 for a battery replacement isn't too bad.
Photo: iFixit

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.

By

App Store
Services like the App Store are a huge money maker.
Photo: Ste Smith/Cult of Mac

Apple execs pay dearly for 2016’s failures

By

Tim Cook
Apple named in another top tech list.
Photo: Apple

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.

Apple revs up R&D spending amid iCar rumors

By

Apple's Car
Apple Car might be coming, but will it be special?
Photo: Aristomenis Tsirbas/Freelancer

Apple may have reached peak iPhone this quarter after posting declining revenues for the first time since 2003, but rest assured the company is working on the next big thing. 

Tim Cook boasted about the amazingly innovative products coming down Apple’s pipeline, and the company’s latest spending figures show its throwing more money than ever at new ideas. 

Investors think Apple isn’t greening quickly enough

By

Apple Campus 2 will be one of the 'greenest' buildings in Silicon Valley.
Apple Campus 2 will be one of the "greenest" buildings in Silicon Valley.
Photo: Apple

Apple is known as one of the most environmentally conscious companies in the world, but some shareholders think the company needs to to a lot more if it hopes to meet the aggressive goals set by the Paris Agreement last year.

Boston-based investment firm Jantz Management has filed a resolution for Apple shareholders that would request that the Board of Directors reveal on plan to shareholders by June 2016 on how Apple plans to reach net-zero greenhouse gas emission status for its facilities and major suppliers by 2030.

Tim Cook only made $10.3 million last year

By

Tim Cook
Don't worry, he's still rich.
Photo: Jim Merithew/Cult of Mac

Apple CEO Tim Cook made approximately $10.3 million in 2015 — $10,281,327 to be exact. That is up only a tad from the $9.2 million he earned in 2014. The other executives at Apple all made around $25 million each for the year. Sure, it’s rough to place the word “only” in front of a ten million dollar check, but in Cook’s case, he is making significantly less than the other execs.