Apple manages options probe damage
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Apple Computer Inc.'s  board  cleared Chief Executive Steve Jobs this week of any misconduct  over stock options accounting problems and Wall Street cheered  him for taking broad responsibility.
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Federal prosecutors are strongly considering criminal charges against former executives of Broadcom Corp., Apple Inc., and KLA-Tencor Corp., related to the backdating of stock options, the Wall Street Journal reported on Friday, citing people familiar with the situation.
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Apple Computer Inc. , which is undergoing an independent investigation into its historical stock option practices, filed with the U.S. Securities and Exchange Commission on Friday to delay its 10-K annual report filing.
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A California judge plans to order Apple Inc  to turn over company board-meeting minutes and records relating to stock options accounting to an investor, according to a newspaper report on Tuesday.
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Apple Inc  Chief Executive  Steve Jobs was asked by U.S. securities regulators to give a  deposition in a lawsuit against the company's former general  counsel involving stock options backdating, Bloomberg reported,  citing two people familiar with the matter.
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There are miles to go before Apple shareholders reap.
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Apple Inc. CEO Steve Jobs has been subpoenaed by the U.S. Securities and Exchange Commission to give a deposition in a stock-options backdating case against Apple's former general counsel, a person familiar with the case told The Associated Press Thursday.
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(InfoWorld) - Graphics chip maker Nvidia found some irregularities in past stock-based compensation practices during an internal probe, and took a total of $127 million in non-cash charges over associated expenses, the company said Wednesday. The figure fell within theÂ $150 million chargeÂ Nvidia said it might have to take. The company also amended financial results for its fiscal year 2006 and the first two quarters of 2007 as a result of the internal probe. The non-cash charge and amendments to previous financial statements ends its internal probe, but an inquiry by the Securities and Exchange Commission (SEC) remains ongoing, Nvidia said. The restated earnings reports did not have a material impact on Nvidia's operating results, it said. The company plans to cooperate fully with the SEC. A number of technology companies have launched reviews over stock-based compensation to employees, finding instances in which stock options have been dated back to a time when the stock had hit a low. The practice is unfair to shareholders and was made almost impossible to legally execute by Sarbanes-Oxley, and for good reason. Stock options were designed as a way for employees to share in the success of the company and give them an added incentive. But by back-dating the options, employees -- often executives -- were essentially given shares that were already valuable. So far, stock options probes, carried out either by companies themselves or by the SEC, have affected over 160 companies.Â Investigations at memory chip developer RambusÂ andÂ security software vendor McAfeeÂ  have led to the resignation or firing of top executives.Â Apple ComputerÂ could be kicked off the Nasdaq by Dec. 29 if it fails to submit its SEC Form 10-Q for the quarter ended 1 July 2006, and any required restatements linked to its stock options probe by that time. Other companies have faced shareholder lawsuits over the issue.
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Apple Computer Inc. said on Wednesday an internal investigation found irregularities with its past stock option grants, prompting the immediate resignation of a former chief financial officer from the board of directors.
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Blog: Tobak's take on Steve Jobs' role in the stock options backdating scandal at Apple
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Several options grants to top  executives at Apple Computer Inc.  were dated just  before sharp increases in its stock between 1997 and 2001, the  Wall Street Journal reported on Monday, citing a review of  regulatory filings.
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By Troy Wolverton, San Jose Mercury News, Calif.  Feb. 9--Already under scrutiny for his role in misdated stock options at  Apple, Steve Jobs is facing growing questions about whether he was involved in  similar problems at Pixar.
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Apple Computer, the maker of iPod music players, delayed filing its financial statements on Friday for the second time, and said it would restate earnings to account for backdated stock-option grants.  The size of any charge related to the options has not been finalized.
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A reported tiff between the label and Apple could signal a new negotiating stance.
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NEW YORK -- Apple Computer Inc. said Friday it has delayed filing its annual report with the Securities and Exchange Commission due to its ongoing investigation into stock option grants.
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Apple said an internal review found that Steven P. Jobs knew the company was backdating stock options to inflate their value.
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Apple Inc.  disclosed on Friday that the U.S. government had informally requested more information and documents on its past stock-options practices, and said the issue was a distraction for management.