Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Apple Says Options Probe Exonerates Executives

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
onehandle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 07:21 PM
Original message
Apple Says Options Probe Exonerates Executives
Apple Computer today exonerated its chief executive, Steven P. Jobs, of any wrongdoing in a stock options backdating probe.

In a filing with the Securities and Exchange Commission, Apple said that while its investigation revealed that the companys stock option procedures did not include sufficient safeguards to prevent manipulation, Mr. Jobs did not benefit financially from any questionable stock awards.

As a result of the internal investigation, Apple said it would record $84 million in expenses related to the options awards.

The news helped push shares of Apple up nearly 5 percent today to $84.84. The share price fell as low as $76.77 earlier this week on reports that the investigation could reveal damaging information about the companys options practices.
Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC