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A federal appeals panel has determined that Apple will not be compelled to publicly reveal sensitive financial details, including profit information, as a result of the company's high profile legal...
08-23-2013, 10:28 PM #1
Court Won't Compel Apple to Publicly Reveal Profits
A federal appeals panel has determined that Apple will not be compelled to publicly reveal sensitive financial details, including profit information, as a result of the company's high profile legal war with Samsung.
Auspiciously for Samsung, the decision also shields the Android-device maker from having to similarly disclose otherwise closely guarded financial information.
The panel's decision today effectively reverses the a lower court's ruling, which would have forced both tech giants to disclose profit and sales data. In this matter, the public ruled that transparency is not impeded by protecting the privacy of the company's financial data.
"We recognize the importance of protecting the public's interest in judicial proceedings and of facilitating its understanding of those proceedings," the panel ruled, according to Reuters. "That interest, however, does not extend to mere curiosity about the parties' confidential information where that information is not central to a decision on the merits."
08-24-2013, 02:08 AM #2
This seems reasonable to me. These companies are beholden to their shareholders, not the public. Transparency should only go so far. If this were a public agency (owned by the state) then complete transparency would be expected, but as it stands both companies have shareholder meetings where chairmen are selected to provide the role of oversight on the shareholders' behalf. The judge made the right call. Besides, I can't see how revealing these numbers would help Samsung. Their profits are necessarily lower than Apple's in the high-end market, despite making most of the components themselves (that's what happens when you shove everything and the kitchen sink into each galaxy device) and in the low-end market nobody seems to be making any money. I think these details are better left locked away, for everyone's sake. The last thing we need is another huge slump in tech stocks.They can have my jailbreak when they pry it from my cold dead fingers.