I disagree Apple didn't do anything wrong. If you lost your phone and called the police would you expect the same result? Of course not, Apple must have made this out to be a bigger issue than it was, to cover up the fact that a "douchebag" employee was at the bar and lost his phone.
Gunny - I haven't read anything about Apple contacting authorities to press charges. If they did, I'd like to hear / read more about that aspect. I believe the California REACT team was acting on their own fruition due to the publicity.
"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill