Apple stock backdating suit dismissed

Remember that stock options backdating scandal that once threatened to take down even mighty el Jobso and his Apple empire? Looks like there's no need to worry about it anymore. Apple Insider reports that a U.S. District court Judge has thrown out the suit, on the grounds that the backdating of options did not affect Apple's stock price. "[As] U.S. District Judge Jeremy Fogel of San Jose noted in his ruling, the retirement board acknowledged that Apple's stock price didn't fall as a result of the backdating, which is somewhat of a prerequisite for most shareholder claims against corporations in similar matters." Despite this fact, Judge Fogel is still allowing investors to refile an amended complaint as part of an existing, derivative suit. Still, it looks like Apple is pretty much out of the woods, so fanboys can breathe a collective sigh of relief.

For more on the dismissal:
- see this Apple Insider article