UPDATE: Apple (AAPL) May Face Sanctions Over Documents in Privacy Lawsuit
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Price: $308.63 +4.84%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
Revenue Growth %: +15.8%
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(Updated - March 19, 2013 5:31 PM EDT)
Apple Inc. (Nasdaq: AAPL) ended up finishing in lower territory Tuesday amid reports that it might be sanctioned over handling of documents in a privacy lawsuit.
At a hearing in San Jose, California, today, U.S. Magistrate Judge Paul S. Grewal said lawyers for plaintiffs could file the sanctions after document production "more than doubled" since the court became involved in policing information-sharing obligations.
Grewal laid in to Apple lawyer Ashlie Beringer, saying it sounded like she didn't do a "lick of work" in double-checking whether or not employees turned over appropriate documents. He said the court turned up another dozen or so employees which didn't appear with the initial requests for information. He also noted that there is a lack of confidence that Apple's procedure has gotten any better since it was first initiated.
Beringer admitted to the mistakes, saying she wasn't asking the right questions and that it was a mistake that "won't happen again."
Apple has been accused of improperly collecting the location of iPhone users, event after geo-location has been turned off on the device, and sharing said information with third-party advertisers.
Apple Inc. (Nasdaq: AAPL) ended up finishing in lower territory Tuesday amid reports that it might be sanctioned over handling of documents in a privacy lawsuit.
At a hearing in San Jose, California, today, U.S. Magistrate Judge Paul S. Grewal said lawyers for plaintiffs could file the sanctions after document production "more than doubled" since the court became involved in policing information-sharing obligations.
Grewal laid in to Apple lawyer Ashlie Beringer, saying it sounded like she didn't do a "lick of work" in double-checking whether or not employees turned over appropriate documents. He said the court turned up another dozen or so employees which didn't appear with the initial requests for information. He also noted that there is a lack of confidence that Apple's procedure has gotten any better since it was first initiated.
Beringer admitted to the mistakes, saying she wasn't asking the right questions and that it was a mistake that "won't happen again."
Apple has been accused of improperly collecting the location of iPhone users, event after geo-location has been turned off on the device, and sharing said information with third-party advertisers.
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