Aurion
11.07.08, 16:45
The U.S. Justice Department has ended its two-year criminal probe of backdated stock options at Apple and has decided not to file charges against current and former executives, including CEO Steve Jobs, according to a report Thursday in The Wall Street Journal.
Apple and the Justice Department declined to comment, but attorneys for two subjects of the probe told the newspaper that they had been notified that the investigation had concluded
"We were always confident that after a full and fair review of the facts, there could be no other outcome," Cris Arguedas, a lawyer for former Apple general counsel Nancy Heinen, told the newspaper.
Apple has admitted that the company backdated certain option grants, including two awarded to Jobs, in order to take advantage of more favorable exercise prices for those grants. Apple has maintained that while Jobs was aware that the options were backdated, he was not aware of the accounting implications of the practice.
Source :
Report: No charges in Apple backdating probe | News - Business Tech - CNET News.com (http://news.cnet.com/8301-1001_3-9988529-92.html?hhTest=1&tag=nefd.top)
Apple and the Justice Department declined to comment, but attorneys for two subjects of the probe told the newspaper that they had been notified that the investigation had concluded
"We were always confident that after a full and fair review of the facts, there could be no other outcome," Cris Arguedas, a lawyer for former Apple general counsel Nancy Heinen, told the newspaper.
Apple has admitted that the company backdated certain option grants, including two awarded to Jobs, in order to take advantage of more favorable exercise prices for those grants. Apple has maintained that while Jobs was aware that the options were backdated, he was not aware of the accounting implications of the practice.
Source :
Report: No charges in Apple backdating probe | News - Business Tech - CNET News.com (http://news.cnet.com/8301-1001_3-9988529-92.html?hhTest=1&tag=nefd.top)