According to the Apple Shareholders Foundation, an investor in shares of the Cuptertino-based vendor has filed a lawsuit against members of the board of directors.
The suit alleges a ‘breach of fiduciary duties that caused damages to the company and shareholders’.
According to the complaint, Apple’s board of directors is responsible for participating in an ‘alleged conspiracy to fix tech industry wages’ and ‘exposing Apple to billions in potential wage restitution’.
More spefically it alleged Apple entered into “allegedly illegal and secretive agreements with numerous other companies located in Silicon Valley, to eliminate hiring competition and drive down employee wages…..the discovery of these agreements has instigated several employee class action lawsuits and subjected Apple to billions of dollars in potential restitution, penalties and fines.”
According to a Sky News article the case was filed by shareholder R. Andre Klein on behalf of all Apple shareholders. The report said he criticised Jobs’ “Zealous pursuit of profits”.
Current CEO Tim Cook, who took over after Jobs’ death in 2011, is also named as a defendant in the suit.
UK chief executive Cindy Rose says the proposed deal is needed to maintain the 'free flow' of data
Contingency plans follow Carillion's demise earlier this year
iboss EMEA VP tells CRN that he sees no point in the vendor entering into competition with its partners
Oliver Tuszik says partners can boost subscription sales by taking a customer experience-led approach