Maybe it’s a software problem.
Report: Apple executives faked stock option documents
Apple’s probe into its stock options backdating mess has determined that documents were falsified, according to report.
By Tom Krazit
Staff Writer, CNET News.com
Published: December 27, 2006, 1:57 PM PST
Last modified: December 27, 2006, 9:02 AM PST
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update Apple Computer’s stock took a hit early Wednesday after a report that company executives had made up details on stock option administration documents to guarantee profits for certain executives.
Shares of Apple stock were down $3.55, or 4.36 percent, to $77.96 in early morning trading on the Nasdaq stock market following the report on Law.com. Apple is one of many companies–including CNET Networks, publisher of CNET News.com–embroiled in government investigations into the practice of stock option backdating, in which companies would assign favorable grant dates to stock options in order to ensure hefty profits for executives.
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