“Apple Computers’ announcement that an internal investigation has uncovered stock option grant irregularities — including one to chief executive officer Steve Jobs — isn’t likely to cause significant damage to the computer giant, according to a new report by UBS,” R.M. Schneiderman reports for Forbes.
“‘We believe potential financial damage [and] penalties from any options irregularities are likely to be limited and cash flow would not be impacted,’ said Benjamin Reitzes, an analyst for UBS and the author of the report,” Schneiderman reports. “UBS said that what happens with this story depends on how Jobs handles it.”
“‘While it is early in the investigative process, we believe that Jobs’ standing at Apple and with shareholders is on solid ground,’ said Reitzes. UBS added that the Securities and Exchange Commission will likely become involved in the case,” Schneiderman reports.
Full article here.
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Apple joins growing list of companies entangled in stock option ‘irregularities’ – June 29, 2006
Apple to investigate stock option grant ‘irregularities’ made between 1997 and 2001 – June 29, 2006