The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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5/04/2007
Apple Backdating Investigation Turns Toward the BOD
Former Apple CFO Makes Deal, Tells Tales on Jobs
Steve Jobs and Stock Options...a Turning Point?
Apple Backdating Investigation Turns Toward the BOD
With Steve Jobs, at this point, apparently not facing legal action for his role in Apple's stock option backdating kerfluffle, attention has turned to the Apple board and how it conducts itself. The board features a few folks you may have heard of including former Vice President, Al Gore and Google boss, Eric Shmidt.
The San Francisco Gate has the details.
-- MDT
4/25/2007
The San Francisco Gate has the details.
-- MDT
Labels: Apple, backdating, Fred Anderson, Steve Jobs, stock options
Former Apple CFO Makes Deal, Tells Tales on Jobs
Looks like Nacy Heinen and Fred Anderson - Apple's former general counsel and CFO, respectively - are coming out swinging. So far Heinen and Anderson are the only two Apple execs to take a public fall for the company's stock option backdating, but both may still have a great deal to say about the role of Apple CEO Steve Jobs.
Official charges against Heinen are expected from the SEC as soon as this week. She has vowed to fight. Anderson, on the other hand, has cut a deal with the SEC - paying $3.5 million to settle backdating-related charges against him.
More on all the schenanigans from Palo Alto, via the FT - here and here.
-- MDT
1/26/2007
Official charges against Heinen are expected from the SEC as soon as this week. She has vowed to fight. Anderson, on the other hand, has cut a deal with the SEC - paying $3.5 million to settle backdating-related charges against him.
More on all the schenanigans from Palo Alto, via the FT - here and here.
-- MDT
Labels: Apple, backdating, corporate scandal, Fred Anderson, Nancy Heinen, SEC, stock options
Steve Jobs and Stock Options...a Turning Point?
There are certainly plenty of business medial pundits out there that have weighed in on the stock options backdating with their contention that imbroglio is much ado about nothing. And yet 160 some odd companies are either currently under or facing potential federal investigation and executives have been dropping right and left.
Heck, one guy even fled the country and initiated an international man-hunt.
One of the most prominent options inquiries has been that of Apple Computer (excuse me...Apple, Inc.) and CEO, Steve Jobs. It looked as if Jobs might skate initially because he essentially grew no benefit from the options that were awarded him. Apple's own internal investigation cried no harm no foul and it seemed that the story might just fade away into the din and roar preceding the much anticipated debut of Apple's iPhone.
But the story didn't quite die there. Just when the Apple options issue seemed to be dying down, it was brought roaring back to life by the admission that the minutes of the meeting where Jobs' stock options were granted had been falsified - that no board approval of the grant had taken place. Apple must have known that there was more to in because the quietly fired the execs involved, including long time general counsel, Nancy Heinen and Apple CFO Fred Anderson.
This prompted some to call for Steve Jobs resignation, although no one within Apple itself, notably. And that kind of standing by your man is what Peter Burrows over at BusinessWeek would like us to think of as The Steve Jobs Effect.
And he thinks its catching....
Heck, one guy even fled the country and initiated an international man-hunt.
One of the most prominent options inquiries has been that of Apple Computer (excuse me...Apple, Inc.) and CEO, Steve Jobs. It looked as if Jobs might skate initially because he essentially grew no benefit from the options that were awarded him. Apple's own internal investigation cried no harm no foul and it seemed that the story might just fade away into the din and roar preceding the much anticipated debut of Apple's iPhone.
But the story didn't quite die there. Just when the Apple options issue seemed to be dying down, it was brought roaring back to life by the admission that the minutes of the meeting where Jobs' stock options were granted had been falsified - that no board approval of the grant had taken place. Apple must have known that there was more to in because the quietly fired the execs involved, including long time general counsel, Nancy Heinen and Apple CFO Fred Anderson.
This prompted some to call for Steve Jobs resignation, although no one within Apple itself, notably. And that kind of standing by your man is what Peter Burrows over at BusinessWeek would like us to think of as The Steve Jobs Effect.
And he thinks its catching....
Labels: Apple, backdating, Comverse, Fred Anderson, Kobi Alexander, Nancy Heinen, Steve Jobs, stock options
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