Apple Owns Up to Backdating

[Nomad559]

Apple Owns Up to Backdating

Apple said late Thursday that stock options granted on 15 dates between 1997 and 2002 were apparently backdated, and though CEO Steve Jobs was aware of favorable grants, he didn't benefit personally and "was unaware of the accounting implications."

In addition, the company announced that Fred Anderson, who served as Apple's CFO from 1996 to 2004, resigned from the company's board, believing it is in "Apple's best interests" that he go.

"I apologize to Apple's shareholders and employees for these problems, which happened on my watch. They are completely out of character for Apple," Jobs said in a statement. "We will now work to resolve the remaining issues as quickly as possible and to put the proper remedial measures in place to ensure that this never happens again."


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