Apple options back dating
The SEC is investigating more than 140 companies over backdating.
Steve Dowling, a spokesman for Apple, declined to comment on Jobs's conversations with Anderson.3, when AAPL shares then sold for a split-adjusted .39, rather than on Oct. As such, “That’s not the thorn that’s sticking out," says Lie, who says he began analyzing Apple's options grants even before the company first admitted "irregularties" this summer.(Since then, Lie has earned consulting fees providing his analysis of Apple's options filings to investors trying to handicap how the scandal will impact AAPL shares.) That's because Apple didn't hit the absolute optimal date, if it wanted to maximize the value of Jobs' options right out of the gate.Former Apple General Counsel Nancy Heinen is currently defending herself against Securities and Exchange Commission (SEC) charges that she illegally backdated stock options. Heinenis attorneys are seeking the financial records of another former Apple attorney, Wendy Howell, in order to discredit her as a witness, according to Bloomberg News. Heinen in April, 2007 and accused her of backdating 7.5 million share option grant to Apple CEO Steve Jobs. Heinenis attorneys are seeking Howellis financial records to establish that she was under financial pressure at the time which gave a motive to "do anything to keep her job" according to documents filed. Heinein in 1997, claims she was, in turn, under orders from Heinen to backdate the options.
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Ehrlich said Heinen's actions were authorized by the board, "consistent with the interests of the shareholders and consistent with the rules as she understood them." Anderson issued an unusual statement defending his reputation and tying Jobs to the scandal in the strongest terms to date.