News
News
12/29/2006
02:01 PM
Connect Directly
RSS
E-Mail
50%
50%

Apple Gives Steve Jobs Clean Bill Of Health In Options Probe

A directors' committee cleared Jobs but said the company will restate financial data and take an $84 million charge.

An Apple Computer directors' committee cleared chief executive Steve Jobs of any wrongdoing Friday in its investigation of options granting but said the company will restate financial data and take an $84 million charge.

In a statement, Al Gore and Jerome York said, "The special committee, its independent counsel and forensic accountants have performed an exhaustive investigation of Apple's stock option granting practices. The board of directors is confident that the company has corrected the problems that led to the restatement, and it has complete confidence in Steve Jobs and the senior management team."

Former U.S. Vice President Gore, an Apple director, chaired the special committee. York is chair of the firm's audit and finance committee. The firm said it filed a Form 10-Q report with the Securities and Exchange Commission on Friday. The report had been delayed while the investigation was completed.

In a release, the company said the restatement covers a period from 1997 and 2002. "The investigation found no grants after December 31, 2002, that required accounting adjustments," according to the company.

Comment  | 
Print  | 
More Insights
The Business of Going Digital
The Business of Going Digital
Digital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest September 18, 2014
Enterprise social network success starts and ends with integration. Here's how to finally make collaboration click.
Flash Poll
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
The weekly wrap-up of the top stories from InformationWeek.com this week.
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.