I was not previously aware of this particular connotation of the word “irregularities”. This is starting to sound Not Good.
As for Apple, deeper trouble could be signified by its use of the
term “irregularities” to describe what initial inquiries into
grant practices had found. That term was used again in the
announcement earlier this month indicating that options problems
were bad enough to require a restatement of past earnings.
Several Silicon Valley defense lawyers — all of whom spoke on
condition of anonymity because they have ties either to Apple or
to other backdating cases — said that in accounting parlance,
“irregularities” generally indicates a problem that’s not