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Apple stock options probe reports no misconduct
Corporate Governance Law |
2007/01/02 03:53
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Apple Computer, Inc. Friday disclosed the findings of an internal report into alleged stock option manipulation by senior managers, including CEO Steve Jobs, purporting to clear its executives of any wrong-doing and concluding that Jobs did not "financially benefit" from stock options, despite knowledge of favorable grant dates. Apple was facing a US Securities and Exchange Commission (SEC) probe in connection with various alleged securities violations, including a failure to properly disclose option backdating. After concluding the internal investigation, Apple restated its yearly financial statements with the SEC, completing a three-month probe. |
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