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Apple's Jobs questioned by U.S. authorities: reports
2007-01-23
Apple Inc. (Nasdaq:AAPL) Chief Executive Steve Jobs was questioned by U.S. federal investigators about stock options backdating at the company, according to several reports citing unidentified lawyers. The company behind the popular iPod digital media player has said it was under investigation by the U.S. Department of Justice and the Securities and Exchange Commission for its past option-grant practices. Jobs was questioned by federal investigators in San Francisco last week, according to reports by the San Francisco Chronicle and Bloomberg, citing unidentified legal sources. Spokesmen for Apple and the Department of Justice were not immediately available for comment. A spokesman for the SEC declined to comment Apple said in December it would take an $84 million charge for misdating more than 6,400 options. It said an internal review found two questionable options awarded to Jobs, but found no wrongdoing by current management, including the CEO. The meeting with authorities was first reported on January 19 by The Recorder, a legal newspaper in San Francisco. The lead attorney in the Justice Department's investigation, Chris Steskal, left in January to join Fenwick & West LLP as a partner, according to the firm's Web site. Apple shares were down 80 cents, or 0.9 percent, at $85.99 in premarket trading from Monday's Nasdaq close of $86.79.
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