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:
Analyst: Stock Probe Documents Unlikely to Impact Apple CEO

Analyst: Stock Probe Documents Unlikely to Impact Apple CEO

by , 12:30 PM EST, December 27th, 2006

The revelation that Apple may have falsified certain documents relating to some stock option grants is not likely to have any direct impact on the company's CEO, Steve Jobs according to Piper Jaffray analyst Gene Munster. He expects that if Friday's SEC filing shows company executives did produce fake records to enhance the profits of backdated stock options, the documents will also show that Mr. Jobs was not involved in the activities.

Mr. Munster speculates that there is a less than five percent chance that Mr. Jobs was involved in any document falsification. He comments "There are 2 reasons why we do not believe Steve Jobs was involved: 1) Apple's internal investigation found no involvement by any current officers, and 2) we do not believe Jobs had a general interest in compensation matters, let alone an interest in falsifying documents related to compensation."

A report on Law.com noted that Mr. Jobs has hired his own legal counsel, leading some to speculate that Apple's CEO expects to be implicated the the stock options scandal. Mr. Munster responded with "Regarding the supposed hiring of a separate legal counsel by Jobs, we do not see this as surprising. We would have expected that he have his own legal counsel for the duration of the options investigation."

Apple's stock took a hit after the news that some executives may have been falsifying documents. It is, however, starting to climb back up again. Currently, Apple stock is trading at US$80.20, down 1.31 (1.61%).


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Digg!

Recent TMO Headlines - Updated May 27th

Fri, 6:39 PM
Apple Could Own Device-Centric AI with Custom Chip
Fri, 5:03 PM
Here’s What Kik Users Need to Know About Kin Cryptocurrency
Fri, 4:48 PM
Sid Meier's Railroads for Mac Hits Steam Platform
Fri, 4:19 PM
The Touchbar MacBook Pro is a Disposable Embarrassment
Fri, 3:50 PM
The 5 Best PC Motherboards for Creating a Hackintosh
Fri, 3:42 PM
Leaked Memo Pegs iPhone 8 Launch After September 17
Fri, 2:15 PM
Apple Music Is Turning Apple into a Media Giant
Fri, 1:37 PM
Apple Watch Tops Heart Rate Monitor Study, Adam Curry's Podcaster Pro - TMO Daily Observations 2017-05-26
Fri, 11:21 AM
Adam Curry's Podcaster Pro Aims to be All-in-One Podcasting Solution
Fri, 11:17 AM
iPhone 8 Cases Already for Sale on Alibaba
Fri, 10:09 AM
New Report Backs Up Touch ID Embedded in iPhone 8 Display
Fri, 1:47 AM
iKlips miReader 4K: $46.99
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!