Author Topic: SEC clears Apple  (Read 1681 times)

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SEC clears Apple
« on: April 25, 2007, 09:31:47 PM »
After many months of this stock options fiacso its finally over for apple. The SEC has filed charges aginst former Apple executives but Apple is in the clear
http://www.macworld.com/news/2007/04/24/heinen/index.php
Quote
The SEC filed similar charges against Apple’s former chief financial officer, Fred Anderson, but simultaneously settled that case. Anderson will pay $3.5 million in penalties in response to SEC charges that he should have noticed Heinen’s actions and corrected the company’s financial statements, the SEC said.

A PDF of the SEC’s complaint against the two former Apple executives is available online.

Despite the charges against those employees, the SEC said that Apple itself was in the clear. The commission praised Apple for its “swift, extensive and extraordinary cooperation” in the investigation, including prompt self-reporting, an internal investigation, sharing the investigation results with the government and implementing new controls to prevent future fraud.

Apple's stock had come up quite nicely today as a result  ;D
"People who are really serious about software should make their own hardware." - Alan Kay