The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Options Prosecutors Quit

Apple Options Prosecutors Quit

by , 9:50 AM EST, January 22nd, 2007

Two Federal prosecutors from the team investigating Apple Inc. for stock option backdating have announced that they are leaving their offices for law firms in the private sector. MSNBC reports that both Kevin Ryan and Chris Steskal have both announced their intentions to retire from the U.S. government.

The loss of both Mr. Steskal and his supervisor, Mr. Ryan, could cause delays in federal investigations into improper backdating at Apple as well as several other companies while new investigators are assigned to the cases.

A spokesperson for northern California's U.S Attorney's office commented "US Attorney Ryan is taking care to ensure a smooth transition in the office's cases. There continue to be many assistant US attorneys with strong investigative skills and substantial trial experience on the stock options backdating task force and throughout the office, who are fully capable of carrying on the work of the task force."

The announcements follow news that the U.S. Justice Department is removing several of its attorneys. According to The New York Times, Senator Dianne Feinstein (D-CA) noted that Mr. Ryan was being pushed out of his job "without cause," and that between 5 and 10 attorneys were being removed. She claims to be aware of seven so far that have been dismissed without cause.

According to Attorney General Alberto Gonzales, the dismissals are not in any way political. Some prosecutors are leaving voluntarily, he said, while others are being dismissed.

The investigation into Apple stemmed from reports that the Mac and iPod maker had improperly backdated stock option grants. Apple conducted its own independent investigation that concluded that although some option grants were improperly handled, the current management team was not involved.

Digg!

Recent Headlines - Updated July 25th

Fri,1:42 PM
Judge Cote Calls Apple Ebook Settlement Unfair to Consumers
1:15 PM
TMO Daily Observations: 2014-07-25
10:24 AM
comiXology Intros DRM-free Digital Comic Backups
8:45 AM
OS X: Repair Home Folder Permissions
Thu,8:48 PM
Hedge Fund: ‘Apple Might Become Obsolete in 2-3 Years’
5:40 PM
MGG 512: Two Zero Zero Hexes Your Favorite Geeks
4:41 PM
TwistedWave Audio Recorder and Editor for Mac: $20
3:47 PM
Apple’s Yosemite Beta: Don’t Use TRIM with SSD
2:42 PM
Apple’s Yosemite Beta Site Conks Out Over Heavy Demand
2:13 PM
TMO Daily Observations: 2014-07-24
1:45 PM
Sweet Design: the CODE Donut Bluetooth Speaker
12:35 PM
Apple Releases OS X Yosemite Public Beta
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!