Falsified Documents May Be at Core of Apple Options Backdating Scandal

Justin Scheck reporting for Law.com:

According to people with knowledge of Apple’s situation, federal prosecutors are looking closely at stock option administration documents that were apparently falsified by company officials to maximize the profitability of option grants to executives.

Still looks like the whole mess is being blamed on Nancy Heinen and Fred Anderson, Apple’s former chief counsel and CFO, respectively. But Scheck also reports that Steve Jobs has hired his own legal representation, separate from Apple’s.

Apple shares dipped two percent on this news. (Via The Macalope.)

Wednesday, 27 December 2006