Apple stock option backdating scandal

Posted by / 05-Jul-2015 09:12

® Industry attention has narrowed in on the threat of commonly known Internet of Things (Io T) devices and their potential safety implications to the home, but there is as much, if not more, to consider when exploring Io T threats in the enterprise.

Net App FAS storage platforms provide small and medium enterprises significant operational benefits through the use of innovative operational features that cover the needs of data efficiency and data protection.

According to the SEC interview, Jobs claimed he doesn't know much about accounting or backdating shenanigans and didn't know the practice was illegal.

Jobs' options were also subsequently canceled when the fraud was brought to light and resulted in no financial gain to the oh-so-neglected CEO.

He was also feeling pretty stung that Apple's board never approached him with a stock option reward without his prompting.

The SEC claimed Heinen fraudulently cooked up options grants by misrepresenting the true dates the grants were awarded to times when the price was at a historic low.

It was the pseudo-scandal launched by the Wall Street Journal's investigative unit, after its reporters began following up on an academic report that demonstrated many executive stock options awards were too well-timed to be plausible.

Backdating itself isn't illegal, but not telling the SEC or stockholders about it is considered securities fraud.

There were also several derivative lawsuits filed by shareholders which Apple settled out of court for m.In the deposition, Jobs told SEC lawyers during a March 2008 interview that he initially approached Apple's board of directors in 2001 about a stock option grant out of perceived lack of respect.Jobs has always maintained he was unaware of the accounting fraud involved with improper backdating of his options, and no government legal action was taken against the CEO and Apple.But the resulting investigation saw Apple's former financial chief Fred Anderson and ex-general counsel Nancy Heinen forced to settle with the SEC for a few million dollars apiece without admitting wrongdoing."It wasn't so much about the money," reports Jobs told the SEC. I felt that the board was really doing the same with me." Apple's chief-of-chiefs has only been paid a token per year salary since his return to the company.

apple stock option backdating scandal-52apple stock option backdating scandal-75apple stock option backdating scandal-71

One thought on “apple stock option backdating scandal”

  1. built within the gun positions of Lord Howard's Battery & a super shot of the chequerboard paint work on Plymouth's Breakwater Fort, so painted so it would not be shot it by mistake by our own fleet and own coastal batteries, so an early hi-vis job! Andy Amor has been flying over Devon and Cornwall, lots of lovely aerials here: River Exe showing Parson & Clerk at Dawlish/Teignmouth, Dawlish Warren, Starcross and Exmouth...2, Goonhilly Earth Station, Bude...2, Tintagel..2..., Portwrinkle, Perranporth, Watergate Bay, Camel Estuary.