Apple Charged For Backdating.. Whatever I Still Love Them..

Apple Charged For Backdating.. Whatever I Still Love Them..

Written By joeylomanto on Apr. 24, 2007.

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Former Apple CFO Fred Anderson will pay $3.5 million in fines and penalties to settle a charge of backdating brought by the Securities and Exchange Commission, the Associated Press reported today.

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Must be nice to have that kind of money to pay off fines and probably not even make a dent in your life. In any case it sucks to hear when companies do foul stuff like this, but as long as it doesn't effect my Apple products I can continue on with life.

Ozone42

Written Apr. 24, 2007 / Report /

He claims he's innocent still.

Wasn't Steve Jobs accused of the same thing and then aquitted of all wrongdoing after investigation? That wasn't a settlement was it? I wonder if there was wrongdoing actually going on and not everyone knew of it, or just someone really messed up the accounting.

estarla

Written Apr. 24, 2007 / Report /

You know, backdating is actually really, really common and has been for awhile. It's because it is (was) so easy to do. Only recently has the SEC started to crack down. Apple seemed like a good start because well, they would rather fry the biggest fish. Remember Martha? If I had a penny for every instance of insider trading... *rubs hands together*

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