PowerPage MacBooks provided by TechRestore - Overnight Mac & iPod Repairs.

« Cocktail 4.1.3 (Leopard Edition) Out the Door | Home | 02 to Open UK Retail Stores at 7 AM for iPhone 3G Launch »

July 2, 2008

Jobs, Other Apple Staff Accused of Fraud - Stock Options Scandal Continues

applelogo1.jpg

Steve Jobs' and Apple's stock option scandal foibles have resurfaced again as Jobs, alongside several other current and former board members have been accused of fraud in a class action law suit.

According to Macworld UK, the accused include former financial officer Fred Anderson, former general counsel Nancy Heinen, and board members William V. Campbell, Millard S. Drexler, Arthur D. Levinson, and Jerome B. York.

The case, which was filed this past Friday, features plaintiffs Martin Vogel and Kenneth Mahoney who have stated that the accused participated in a plot to file false financial statements and conceal millions of dollars in executive compensation via the backdating of stock options.

Back In June of 2006, Apple acknowledged that an internal investigation had revealed irregularities in its stock option grants between 1997 and 2001. The company stated that one of the grants in question was to Jobs but that "it was subsequently canceled and resulted in no financial gain to the CEO."

If you've heard anything on your end or have something to say about the case, let us know in the comments or forums.

Posted by chrisbarylick at July 2, 2008 10:27 AM
Category: News
Tags: Apple, Arthur D Levinson, backdating, CEO, class action, fraud, Fred Anderson, Jerome B York, Kenneth Mahoney, Martin Vogel, Millard S Drexler, Nancy Heinen, Steve Jobs, stock options, William V. Campbell
Buy from: Apple, iTunes, Amazon.

Digg This | Post to del.icio.us | Post to Furl




Trackback Pings

TrackBack URL for this entry:
http://www.powerpage.org/mt/mt-tb.cgi/11445

Comments

Post a comment




Remember Me?



(you may use HTML tags for style)