- Nov 22, 2003
- Reaction score
No buts about the Mac, but this smells funny:
Apple board member Al Gore personally vouched for Apple CEO Steve Jobs last week. As you know, Jobs has been under scrutiny for "backdating" stock options. From late December,
The threat to Jobs had been real, if for no other reason than the massive backdating scandal has claimed dozens of other scalps, including tech-world luminaries.
But with no less distinguished personages than former Vice President Al Gore, a board member, vouching for him, Jobs appeared to have weathered the storm with his reputation and position at Apple still in place.
Oops. On Wednesday of this week,
There are new allegations that CEO Steve Jobs was personally involved in stock option grants that, overnight, guaranteed Apple Computer executives millions of dollars.
A lawsuit filed in federal court in San Jose claims the options were granted the day before Jobs announced an agreement with Microsoft that caused Apple's stock price to soar. The suit alleges documents were forged in other sets of options.
"According to Apple, these were backdated options," said attorney Mark Molumphy. "Worse yet, apparently there was a board meeting that was faked to approve these options. If true, this is no longer just an accounting case, this is a cover-up case," he said.
Apple admits Jobs recommended the options be backdated, but the company said he did not appreciate the implications...