Friday, December 29th 2006
Apple faked files in Steve Jobs stock option scandal
For those of you who don't know about the Apple stock option scandal: Steve Jobs, in 2001, was granted 7.5 million stock options without the proper authorization of the Apple board of directors. However, it has recently come to light that the scandal is much more serious than initially thought. Someone had falsified the documents that make Steve Jobs look like he had authorization for those stock options. The Securities and Exchange Commission is weighing whether or not to take action against Apple and/or any of the individuals involved, and whether or not Steve Jobs himself could be in trouble is unclear. Steve Jobs returned all the stock options before exercising them.
Source:
EnGadget
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