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Apple Admits To Stock Options Backdating

Law360 (October 5, 2006, 12:00 AM EDT) -- An internal investigation revealing irregularities with California tech giant Apple Computer Inc.'s past stock option grants has made it the latest company to face the scrutiny of federal prosecutors.

The probe has already prompted the immediate resignation of Apple’s former chief financial officer, Fred Anderson, from the board of directors. Anderson, who served as CFO from 1996 to 2004, told the company he believed it was in Apple’s best interests that he leave.

Authorities are now examining Apple’s options practices, as securities regulators in San Francisco...
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