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Technology Stocks : Apple Inc.

AAPL 271.84

-0.4%

3:59 PM EST

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From: Lizzie Tudor	10/4/2006 5:28:09 PM
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apple stocks options investigation over. Nothing earth shattering it looks like, but now they still have to restate. Ugh. This is painful, how long is this restatement going to take? Apple probe finds option irregularities; likely to restate By Ruth Mantell Last Update: 5:20 PM ET Oct 4, 2006 SAN FRANCISCO (MarketWatch) -- Apple Computer Inc. after Wednesday's closing bell said a special board committee investigating the company's stock-option practices has found that the most recent evidence of irregularities relates to a January 2002 grant, and that stock-option grants made on 15 dates between 1997 and 2002 appear to have grant dates that precede the approval of those grants. The iPod maker will likely need to restate its historical results to record charges for compensation expense relating to grants, though they have yet to determine the amount of the charges or which periods may require restatement. The 3-month investigation, which was prompted by a management review that discovered irregularities, also raised "serious concerns" regarding the actions of two former officers in connection with the grants, but found no misconduct by any current management team member. End of Story marketwatch.com

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