News, info, and opinion by Mac users, for Mac users.

December 27, 2006

business

Apple’s stock-option documents under review by Feds

Posted Dec. 27, ’06, 7:58 PM PT by Derik DeLong
Category | Business

SEC That stock option post-dating scandal hasn’t fully disappeared into the background. In fact, documents involved are undergoing further scrutiny.

U.S. federal investigators are “looking closely” at stock-option documents that former Apple officials allegedly falsified to boost their own profits, The Recorder legal newspaper reported late Tuesday in its online edition. Revelations regarding past stock-options practices are expected in Apple’s delayed annual report due out Friday.

Further, word is that Big Daddy Jobs has hired a lawyer to help protect himself though he appears to be clear of any wrong doing. According to the original source of the investigation story, the government’s lawyers will be focusing on the falsified documents as the proof that Apple’s executives knew they were doing something wrong.

We’re still expecting the company’s delayed financial report this Friday, which should hopefully be enough to keep them listed in the NASDAQ.

“Who’s served by the delisting of Apple?” asked Jahan Raissi, a partner at Shartsis Friese who represents companies in SEC matters. “If it was Joe’s Shlock and Poultry Farm, then sure, get them out of there. But not Apple.”

Hopefully, the events of years past will be made more clear soon, and not behind closed doors.


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