Reacting to recent news that the company is being sued for stock option grant irregularities, a group of investors today filed suit against Apple for facing too many lawsuits.
“Apple is currently the subject of no less than 5,428 lawsuits,” said Marcus Gregory, Chief Investment Strategist for the State of California Teacher’s Pension Plan, one of the plaintiffs in the suit.
“This has a negative effect on the value of the company’s stock. We are initiating this lawsuit to recuperate our losses of potential income.”
While “loss of potential income” may not sound like much of a legal footing, Apple has already been sued by someone who feared his iPod could damage his hearing.
As its star has risen in recent years, Apple has seen the number of suits against it skyrocket, many of them baseless.
For example, contrary to what has been claimed in some of these suits, it is highly unlikely that Apple
- Fathered a love child with an 18-year old woman from New Rochelle, NY. It was more likely that dratted Ronald from across town who was always coming by.
- Built Stonehenge in the third century B.C. and won’t give up its secrets.
- Leaked the identity of Valerie Plame and the details of several government spying programs. And then tried to sell the formula for Coke to Pepsi. And peed in the pool.
- Shot JFK.
Apple stock was down 2.69 on the news of the new suit.
“See?!” Gregory said.