Apple announces internal investigation

June 30, 2006
Apple logo

Apple announced an internal investigation has discovered irregularities related to the issuance of certain stock option grants made between 1997 and 2001.

The company noted that one of the grants in question was to CEO Steve Jobs but was "subsequently cancelled and resulted in no financial gain to the CEO."

Apple also said that a special committee of Apple's outside directors has hired an independent counsel for the investigation and that it has informed the Securities and Exchange Commission.

"Apple is a quality company, and we are proactively and transparently disclosing what we have discovered to the SEC," said Jobs. "We are focused on resolving these issues as quickly as possible."

The company said it would not comment on the issue until completion of the investigation.

Copyright 2006 by United Press International

Explore further: Drugs behave as predicted in computer model of key protein, enabling cancer drug discovery

Related Stories

Researcher develops living wage calculator

August 10, 2015

With income inequality emerging as an issue in the 2016 U.S. presidential elections, you may well begin to see references to MIT's Living Wage Calculator (LWC). This online spreadsheet lets anyone calculate a wage required ...

Recommended for you

On soft ground? Tread lightly to stay fast

October 8, 2015

These findings, reported today, Friday 9th October, in the journal Bioinspiration & Biomechanics, offer a new insight into how animals respond to different terrain, and how robots can learn from them.

University team's robot inspired by jumping spider

October 8, 2015

Special insights and observations about how animals move, handle danger and preserve energy are not only interesting but valuable to scientists in the field of robotics. One such contribution of animal-like robotic movement ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.