Feeds

Apple 'falsified' share documents

Steve Jobs's options fingered

New hybrid storage solutions

Apple's chief executive Steve Jobs was given share options on the basis of falsified documents which claimed to show the board of directors had approved the stock grant, the FT has claimed.

Apple admitted back in June that it had incorrectly accounted for share options between 1997 and 2001. The SEC is investigating dozens of Silicon Valley firms for backdating or wrongly accounting for share options.

But the SEC is now looking at documents relating to the granting of 7.5 million options to Steve Jobs in 2001 which supposedly showed Apple's board of directors approved the grant. It believes these documents were falsified at a later date. According to the Financial Times, which broke the story, Apple will confirm the dodgy documents in an SEC filing later this week.

Apple claimed its own house was clean after an internal audit late last year which resulted in the resignation of chief financial officer Fred Anderson. Steve Jobs apologised at the time to Apple staff and shareholders.

Jobs never actually excercised the options in question.

Some stock market analysts are predicting Jobs will not have to carry the can and shares will bounce back if ex-Apple staff are blamed for the problem. Legal newswires report that Jobs has hired his own independent legal counsel.

More from the FT here.®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.