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Apple Execs Reportedly Faked Options Documents

Posted by ScuttleMonkey on from the hands-in-the-cookie-jar dept.

theodp writes "Federal prosecutors are reportedly looking closely at stock option administration documents that were apparently falsified by Apple execs to maximize the profitability of option grants. While Apple has said CEO Steve Jobs did not profit from the stock-option backdating, Jobs has reportedly hired his own attorney to deal with the SEC and Justice Department."

3 of 172 comments (clear)

  1. Re:Say it Ain't So Fred! by Bill+Walker · · Score: 2, Interesting
    ...managed the investment of those funds astutely enough to make the conversion of those outstanding notes to common stock a huge win for both the company and creditors.

    Convertible bonds aren't a win for existing stockholders, however, who find their stake diluted by the new issuance. To oversimplify, it would be like the US government printing money to pay debts.

    --
    Please, for the love of God, no more car analogies.
  2. Re:Is Apple the Enron of Computer Companies? by rob1980 · · Score: 2, Interesting

    Why does Steve Jobs need an army of lawyers if he didn't do anything wrong?

    Because the right to legal counsel applies to CEOs too?

  3. This is what Enron was up to... by argent · · Score: 2, Interesting

    It goes further than that, into the realm of coercing power plant managers and tampering with the energy market itself.

    No kidding.

    "Tonight ... we want you guys to get a little creative ... come up with a reason to go down..." "... our electricity happens to be on-shift tonight ..."