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Latest Business News

Apple Says Options Probe Clears Execs

Friday, December 29, 2006 6:07:45 PM
By MAY WONG

A woman walks past a wall of poster ads for the iPod shuffle outside the Apple store in San Francisco, Friday, Dec. 29, 2006. Apple Computer Inc. cleared Chief Executive Steve Jobs and the rest of its current management of misconduct involving stock option grants, despite Jobs' awareness of favorable grant dates. (AP Photo/Jeff Chiu)SAN JOSE, Calif. (AP) - Apple Computer Inc. gave the most detailed account yet of its stock-option practices Friday, clearing CEO Steve Jobs and other current executives of any misconduct. Yet it still isn't clear who was responsible and how much Jobs was involved.

And while Apple has concluded its own probe into the backdating scandal, Jobs and others aren't necessarily cleared of any civil or criminal actions. The Securities and Exchange Commission and the U.S. Attorney's Office have yet to publicly comment on whether they are investigating the matter.

Apple said Friday it has given the results of its review to the federal agencies and responded to their "informal requests" for documents and additional information.


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