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Technology Stocks : Apple Inc.
AAPL 273.40-0.1%Dec 26 9:30 AM EST
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To: Lizzie Tudor who wrote (68649)9/15/2007 7:33:21 PM
From: HerbVic  Read Replies (1) of 213177
 
Lizzie,

You already know that it is not the backdating of options that is drawing legal prosecution. It is the failing to record necessary compensation expenses in financial statements. So, how can you agree "with the comment at the end of [the] piece that the bar has already been set by the Reyes case where this practice of backdating was deemed stealing...?"

IMHO, Greg Reyes was thrown to the wolves, just as Fred D. Anderson and Nancy R. Heinen were, to protect the company. If you want to go on a rant about this story, you might want to concentrate on the fact that placing the adjective "former" in front of your title can land you in jail.

byteandswitch.com

-=-=-=-=-

From Wikipedia:

With respect to the more serious cases of backdating, it is likely that most of the criminal actions that the government intends to bring will be brought in 2007. There is a five-year statute of limitations for securities fraud, and under the Sarbanes-Oxley Act of 2002, option grants to senior management must be reported within two days of the grant date. This all but eliminated the opportunity for senior management to engage any meaningful options backdating. Therefore, any criminal prosecution is likely to be based on option grants made before Sarbanes-Oxley took effect, and the deadline facing the government for bringing those prosecutions is approaching.
en.wikipedia.org
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