Feeds

Feds scrutinize backdated options awarded Steve Jobs

Bogus grant date, non-existent meeting

Security for virtualized datacentres

If Steve Jobs is indeed able to defy gravity at times, as the New York Times suggested today, backdated stock options given to the larger-than-life Apple CEO may prove to be the tractor beam that brings him crashing back to earth.

Federal authorities are investigating grants made to Jobs that carried a false October 2001 date, according to the Wall Street Journal, which cited unnamed people familiar with the matter. Apple recently disclosed that records were improperly created at a board-of-directors meeting that month, when in fact no such meeting took place, according to the Journal.

The possibility of Jobs being brought down would be devastating to Apple's future. His wizardry in melding technological design, marketing brilliance and a flare for fashion has been so intertwined with Apple's success over the past decade that investors and analysts consider his continued involvement with Apple crucial. Like Louis XIV, whose contributions to 18th century France led historians to attribute the phrase "L'État, c'est moi" ("I am the State") to him, Jobs is almost inseparable from Apple.

Jobs's unveiling of the iPhone earlier this week at the Macworld Expo once again reinforced the impression that Apple's fortunes are inextricably linked to Jobs's continued involvement. With comparisons of the device to the industry-changing Macintosh and iPod, which Jobs introduced in 1984 and 2001 respectively, the iPhone is the latest example of Jobs's brilliance.

The false documentation was created by an attorney for Apple who was dismissed by the company last month, according to the Journal. That attorney contends she was following the directions of Nancy Heinen, Apple's then-general counsel. A lawyer representing Heinen, who left Apple in May, said his client "acted as instructed by Apple management and with the company's best interest being paramount," according to the Journal.

An internal investigation conducted by a task force appointed by Apple absolved Jobs and all current executives from any wrongdoing in connection with backdated options.

An Apple spokesman declined to comment to the Journal, other than to repeat that the company has turned over all documents connected to its investigation to authorities with the Securities and Exchange Commission and the US Attorney's office. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.