Apple stock option backdating scandal

On June 7, 2007, the company said the SEC issued a formal probe order related to its stock-options grants.

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Free adult video chat in usa - Apple stock option backdating scandal

Management continues to believe, and the audit committee agrees, that Apple will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.

The company and its independent auditors are reviewing recent accounting guidance published by the SEC, and have not yet determined the amount of such charges, the resulting tax and accounting impact, or which periods may require restatement.

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A federal appeals court has thrown out the stock option backdating conviction of Gregory Reyes, the former CEO of Silicon Valley network equipment manufacturer Brocade.

THIS SCORECARD WAS LAST UPDATED IN SEPTEMBER 2007 AND IS NO LONGER BEING UPDATED. Note: This list contains companies that have disclosed government probes, misdated options, restatements and/or executive departures as of Septmeber 2007.

Last modified 12-Dec-2019 22:10