toggle

AAPL Stock: 94.72 ( + 0.78 )

Printed from http://www.macnn.com

DoJ clears Jobs, others in options scandal

updated 01:00 am EDT, Fri July 11, 2008

DoJ clears Jobs and others

The US Department of Justice will allegedly not pursue charges against Apple for the backdating of stocks for CEO Steve Jobs, as well as several other current and former employees. The Wall Street Journal writes that while neither the US attorney's office nor Apple itself would comment, lawyers for two of the accused confirm that they see "no other outcome", after a full review of the evidence against Jobs et al, and being notified that the criminal inquiry is over.

Former general counsel Nancy Heinen states, however, that they are still fighting civil charges by the SEC regarding incorrectly dated stock options obtained by Jobs when first retaking the reigns as CEO. Evidence in the matter rests solely on former Apple attorney Wendy Howell, whose lawyer said that no charges would be filed.

The charges came from an internal investigation, in which Jobs was confronted regarding date irregularities in options granted to him. Apple claimed Jobs had no wrongdoing in the matter, since he did not "appreciate the accounting implications" of what was done.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, ...

toggle

Most Commented