Apple says likely to restate results, delay filing

[Nomad559]

Apple says likely to restate results, delay filing

Apple Computer Inc. said on Thursday it would likely need to restate earnings and will delay filing its quarterly report because of additional irregularities it found in its accounting of stock options and its shares fell 6.6 percent.

Apple first announced on June 29 that it was conducting an internal probe into irregularities related to stock option grants, hired an independent counsel to conduct its own investigation of the irregularities and notified the U.S. Securities and Exchange Commission.


Apple, maker of the iPod digital music player and Macintosh computer, is now among the most high-profile companies caught up in a stock options scandal that has swept through the technology industry. The SEC has more than 80 investigations underway to determine if companies manipulated the prices of stock options given to executives.

[alfredo]

1. Heard something today about Jobs not being

implicated in any of this, but he is the captain of the ship he should have known something was afoot.

[Nomad559]

2. Apple execs hire lawyers as options probe proceeds

Apple execs hire lawyers

Apple executives are hiring lawyers as the company's stock options debacle continues.

The news emerges as Apple CEO Steve Jobs faces further enquiries following revelations that two senior executives at his one-time other company, Pixar, were also granted share options in a way that maximised their value.

John Lasseter, the creative director behind Toy Story and Monsters Inc, and Pixar's president Edwin Catmull, were granted options just as Pixar shares hit a low point.

The Securities and Exchange Commission is investigating 80 companies amid suggestions that executives "routinely and illegally backdated the options to a low point in the shares," reports The Independent. However, the report also confirms that there is no evidence that the timing of these grants was "anything more than a coincidence".

[Nomad559]

4. Nasdaq puts Apple on notice

Nasdaq puts Apple on notice

Apple Computer, which has delayed a quarterly regulatory filing amid a stock-options accounting probe, said Friday that it has received a letter from Nasdaq warning that it's not in compliance with the exchange's rules.

Companies must complete regular Securities and Exchange Commission filings as a requirement of continued listing on the Nasdaq. The Cupertino, Calif.-based company said last week it would delay its quarterly filing, pending an inquiry into stock option grant irregularities.

The Mac maker said it has requested a hearing and will remain listed on the exchange pending that hearing.

:)

[onehandle]

3. Do you even own a Mac? nt

[William769]

5. Does it matter?

[onehandle]

6. He was posting nothing but negative claims about Apple.

No chatting in general about Macs, just hit and run digs. Here and in other DU areas. Others have observed this too.

That's a form of disruption.

Hasn't happened for a little while that I've noticed. You're responding to a month old post.

[William769]

7. I just found the post.

Maybe it has something to do with all the hit & run posts on Microsoft.

Whats good for the goos is good for the gander.