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.
