Whether the criminal justice system ever files charges against Apple or not, it looks like the company might find its way to court over its admitted practice of back-dating executive stock options. Yep, it's class-action time again.
The New York City Employees Retirement System was named Monday as lead plaintiff for the suit, which has been filed in California. If that strikes you as odd, it shouldn't. The NYCERS is an enormous investment fund, holding more than $89 billion in assets and regularly advocating for social change or justice through its shareholding. They've put pressure on Exxon Mobil to push for reduced emissions and on Cracker Barrel to end an official policy supporting only heterosexual practices.
It's a pretty safe bet that it's a big deal when NYCERS gets involved. They're one of the largest shareholder rights groups in the country, and they're mad as heck. So if you're an AAPL owner, you might want to just get in the queue.
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