Apple Defeats Investor’s Lawsuit Over Executive Compensation

Apple Inc. didn’t misrepresent the value of stock-based compensation for Tim Cook and other executives to shareholders ahead of a vote on Cook’s pay, a federal judge said, dismissing an investor’s lawsuit against the tech giant and its top leaders.

Apple’s disclosures to shareholders didn’t unlawfully lead the Teamsters pension fund that brought the lawsuit to lose money through inflated executive pay, Judge Jennifer L. Rochon said, because the investor only took a non-binding vote on executive pay after reviewing the proxy statement.

The International Brotherhood of Teamsters pension fund, an institutional investor in Apple, sued Cook and other high-level ...