Steve jobs back dating options
"Things are looking more favorable for Jobs," she said. The stock fell about 3 percent after Anderson's statement around 1 p.m. The SEC and Justice Department have also been looking into stock options backdating at Pixar, where Jobs was chairman and chief executive before the company was bought by the Walt Disney Co. An internal investigation at Walt Disney concluded last month that Jobs had not acted improperly in the award of options to senior Pixar executives.Several of those grants coincided with dates when Pixar stock was at an annual low. But two weeks ago, the company said in an SEC filing that it would pay as much as .5 million to account for improper backdating of options given to Pixar employees.Apple has not publicly released its investigation report.
Dowling emphasized that the SEC did not "file any action against Apple or any of its current employees." Government authorities praised Apple for coming forward with the backdating problems last year and for sharing information with investigators.Late last year, Apple said that Jobs helped pick some favorable dates but that he "did not appreciate the accounting implications." Explaining Anderson's motive for issuing the statement, his lawyer Jerome Roth said: "We thought it was important that the world understand what we believe occurred here." Roth said his client, a prominent Silicon Valley figure and a managing director at the venture capital firm Elevation Partners, will not be barred from serving as a public-company officer or board member under the settlement, in which Anderson did not admit wrongdoing.Roth declined to characterize the current relationship between Anderson and Jobs.Ingrid Ebeling, an analyst at JMP Securities, noted that Anderson's response contradicted Apple's earlier statements that Jobs was unaware of the accounting significance of backdating options.Though Anderson might be bitter, Ebeling said, "I would give his statement credibility." At the same time, she said, the fact that the SEC investigation has proceeded thus far without charging Jobs is a good sign for the Apple chief executive.