“Apple has been added to Nasdaq’s list of ‘delinquent companies,’ a step that moves the company closer to a potential de-listing from the stock market following the emergence of irregularities linked to stock option grants,” Rhys Blakely reports for The Times.
“The company said last week that it would be forced to delay its third-quarter results as it presses on with an internal probe into the granting of options,” Blakely reports.
“Apple has now been added to the list Nasdaq publishes each trading day of companies that are non-compliant with the market’s listing standards. Companies are removed from the list one business day after Nasdaq determines it has regained compliance, or the company no longer trades on the market. To read the current list click here. Apple had said it had sought a meeting with Nasdaq to discuss the options issue. The fate of that request is unknown,” Blakely reports.
MacDailyNews Take: A formality. Apple will be delisted from NASDAQ the day after we switch to Windows.
Related articles:
Apple unlikely to be delisted by NASDAQ – August 16, 2006
Apple CEO Steve Jobs drawn into stock options scandal – August 15, 2006
Apple announces update regarding stock option grants – August 11, 2006
As expected, Apple delays quarterly results due to stock-options grants review – August 11, 2006
Some stock options grant decisions were made by Apple board, and potentially, CEO Steve Jobs – August 10, 2006
Disney: no material impact from Pixar options – August 09, 2006
Pixar options draw scrutiny – August 08, 2006
Apple stock options scandal? What scandal? – August 07, 2006
Class action lawsuit over stock options filed against Apple Computer, Inc. – August 04, 2006
Wall Street forgiving of Apple’s stock option irregularities; CEO Jobs unlikely to be terminated – August 04, 2006
Apple’s stock option irregularities escalate into a scandal as world awaits Steve Jobs’ WWDC keynote – August 04, 2006
Apple warns of profit restatement dating back to 2002 – August 04, 2006
Apple loses 3.5% to $67.15 in premarket trading – August 04, 2006
Apple announces update regarding stock option grants – August 03, 2006
Shareholder’s options suit against Apple alleges ‘striking pattern that could not have been chance’ – July 11, 2006
Apple announces update regarding stock option grants – July 05, 2006
UBS: stock options probe unlikely to hurt Apple – June 30, 2006
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
Pretty scary stuff, as a shareholder. I hope they get their acts together and clear this up before the company is affected.
Shame on you. Bad Apple! *smacks Apple’s wrist*
This is just following the regulations. Apple will get their act together because people that own the stock (CEO, board members, etc.) will not want the shares to drop in value after they get delisted so they will make sure they get everything done.
Jen and Vince Engaged!!!!!!
I notice CNET Networks, Inc. is also on the list for being delinquent.
The Steve and crew are a bunch of “delinquents” and have been for years.
Rock on Steve!
Are we delinquent users now?
our Apple has a worm.
Should we go in denial?
Blame those mean men at NASDAQ?
or perhaps consider the possibility that our guys thought they were more clever than the investigators?
Nah! denial is where I’m going
“Pretty scary stuff, as a shareholder.”
Yeah, since the announcement the stock has gone up about 5%. Run run run screaming for the hills.!! Sell your stock. Stock up on bread and milk. Armageddon is coming.
And in other news AAPL is up 0.45 (0.67%).
I can’t remember … did “the delinquents” come before or after “the misfits” in the Think Different commercials
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There are 145 companies on that list!
Apple is in bad shape regarding financial reporting. This is not good business practice. And, as a shareholder, it really upsets me that they screwed this up so badly.
:-((
Charko said
There are 145 companies on that list!
Even if your boat sinks with another 1000 on board still is a bit of an incovenience to be sarcastic about it.
Apple execs are full of themselves. Success makes people feel superior and invincible. Also causes them to take advantage of their customers in some bad ways.
Maybe this experience will cause them to behave better, especially with their customers who may very well turn out to be smarter than they think!
• as a stock holder… I could give a f*ck
• nothing illegal or immoral was done here
• this is SEC house-keeping, and aapl is out ahead of it
• this stock is going up
Just another reminder people seem to forget. Apple initiated their own investigation BEFORE any SEC or NASDAQ inquiry. That is a very good sign that they were being proactive, unlike Dell who stated they were under informal investigation by the SEC since 2005.
Apple will be delisted from NASDAQ the day after we switch to Windows.
So what is the day we are supposed to switch to Windows?
So Microsoft is liquidating the Apple division?
Will my current software work with Windows? Can I get a discount or exchange on the Windows version?
Will I have to buy it or will it come preinstalled on a new Apple PC?
Somebody please help me.
Also, this is no small matter. Being in denial and saying there is no basis for NASDAQ to take this action is stupid.
Apple can probably get themselves back into compliance and the good graces of the Gov’t and the exchange, but they should not have gotten themselves into this situation.
While their energies are focused on solving this problem, what is happening to their core business? You might be able to figure out the answer to this question by looking closely at Steve’s WWDC performance… no question he was off his game and if he’s off, so is everyone else in Cupertino.
Who knows a Nasdaq company who’s not delinquant?
Looks like Nasdaq didn’t appreciate Apple’s response that the “irregularities” were just part of Apple’s motto to “Think Different”.