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Apple Investigated Over Stock Options

Posted by ryuzaki0 on from the slight-of-hands dept.

blamanj writes "Apple has joined the list of over fifty companies (most in Silicon Valley) that possibly mishandled stock options by backdating them. The technique is not illegal, but it can cause a company to improperly deduct employee compensation expenses and result in an underpayment of taxes. So far, Apple is conducting the investigation itself, but it has notified the SEC."

2 of 88 comments (clear)

  1. CORRECTION. by jcr · · Score: 4, Informative

    This headline is complete BS. Apple's own internal auditors found something that might be an issue, and Apple reported it to the SEC themselves.

    -jcr

    --
    The only title of honor that a tyrant can grant is "Enemy of the State."
  2. Re:I'm investigating myself. by Otter · · Score: 4, Informative
    It's not (at the moment) illegal per se. It does lead to accounting, disclosure and tax improprieties if it's not reported.

    In any case, the self-investigation does seem strange -- how could the company not know if it had been done? If they really don't know, I'd say that's an issue in itself.

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