The backdating options scandal won't die down for Apple. Apple fought back three proposals from activist investors seeking to change the company's compensation policies.

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The Oracle of Omaha, albeit Warren Buffett, the second richest man on Earth and legendary investor stepped up his criticism of hedge funds. Earlier, a German finance minister called the hedge funds "locusts".

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Ahead of this year's annual meetings, activist investors have submitted shareholder proposals at roughly 60 companies seeking an advisory vote on executive pay, according to Institutional Shareholder Services. Targets include Citigroup Inc., Wells Fargo & Co., WellPoint Inc.

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