U.S. Justice Department ends criminal probe of backdated stock options at Apple Inc.

“The Justice Department has ended its criminal investigation of backdated stock options at Apple Inc., deciding not to bring charges against the company or several current and former executives it had been probing for two years, people familiar with the case said,” Justin Scheck and Nick WIngfield report for The Wall Street Journal.

“A spokeswoman for the U.S. attorney’s office in San Francisco, which was handling the case, declined to comment. An Apple spokesman also declined to comment,” Scheck and WIngfield report. “A lawyer for Mr. Jobs didn’t return messages late Wednesday seeking comment.”

“Mr. Jobs, Apple board members and several former executives are named in several private lawsuits related to options backdating that still are pending,” Scheck and WIngfield report.

Full article here.

[Thanks to MacDailyNews Readers “Judge Bork” and “Michael B.” for the heads up.]

We knew those “Free Jobs!” T-shirts were a bad idea.

[UPDATE: 11:42am EDT: Fixed issue that prevented Reader Feedback from appearing.]

6 Comments

  1. Apple stopped backdating options in January of 2002. Jobs only gets money on stock and options; he takes no salary. Earth calling stockholders of Apple: you WANT a CEO who DOESN’T have a 32-million dollar salary and a golden parachute if he fails. You want someone fighting to increase the value of your stock.

    Since January of 2002, Apple’s stock value has increased 15 times.

    And you’re suing the guy? What a bunch of noobs.

  2. Go take a look at the company stock during the pre-2002 period. It was flat. What the board really should have done is insisted he take a big salary while he was working to get Apple’s ship in order. But they didn’t and instead chose to use back-dated options, which wasn’t uncommon back then and they had an in-house attorney telling them it was OK. Whether back-dated options or salary, the man makes money. No one expects a guy like that to work for free.

  3. Why should stock holders care whether Steve Jobs makes some extra money (or even how, in this case). He has made everyone else money (who were smart enough to invest). Those people who were interested in going after SK or AAPL clearly have some other agenda. Or they’re just stupid. Assuming he did all bad and evil things, were stock holder hurt? Absurd to think so. Has Apple been hurt? Get real. Did SJ get something extra for his work? We’d all hope so. It’s about time this ended.

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