Linked by Thom Holwerda on Thu 28th Dec 2006 22:28 UTC
Apple Computer gave Chief Executive Steve Jobs 7.5 million stock options in 2001 without the required authorization of the company's board, the Financial Times reported on Thursday. Records purporting to show that a full board meeting had taken place to approve the remuneration, as required by Apple's procedures, were later falsified, the Financial Times reported, citing people familiar with the matter. The report comes after Apple shares fell as much as 6 percent on Wednesday on a report in legal trade publication The Recorder that federal prosecutors were looking at 'apparently falsified' stock option documents in their probe of Apple's previous grants. Update: Apple released new information about its allocation of stock options on Friday, defending CEO Steve Jobs following speculation that a key document had been forged.
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Member since:
2005-10-12
This has a little ways to run yet. An internal investigation cleared Jobs. We have now to find out if the Justice Department or the SEC have any issues.
It doesn't matter if he gained personally, if he did well for Apple, if Apple is doing well, if shareholders lost or won or what the stock did yesterday. All that will matter to Justice and SEC will be if there is a case. If there is, they will go after Apple.
It has nothing to do either with anti Apple or anti Mac feeling on the part of individuals. Its just about whether there is a case to prosecute. The same, by the way, will apply to the Dell case.