Apple may need to restate last 15 quarters
Print storyStock options probe 'likely' to warrant restatements
Posted in Financial News, 4th August 2006 09:44 GMT
Webcast: Building Applications for the 21st Century
Apple is "likely" to restate its financial results from 29 September 2002 onwards following the discovery of further evidence of "irregularities" concerning stock options granted between 1997 and 2001, the company warned yesterday.
The Mac maker announced in June that it was commencing a third-party led independent investigation into the mishandling of the options awarded to top executives. The probe will cause the delay of the formal submission of Apple's Q3 results to the US Securities and Exchange Commission, the company also said yesterday.
That implies the numbers may have to be changed, a likelihood signalled by the announcement that the company may have to restate all its quarterly figures from Q1 FY2003 - the quarter that kicked off on 29 September 2002 - onwards. Apple's choice of words suggests it almost certianly will post new figures from then to now.
The announcement will fuel the lawsuits already underway against the company, filed in the light of its June revelation by investors who reckon they lost out as a result of the company's actions. ®
The Register Guide to Extended Validation
Building Web Application Security into Your Development Process [3-2APYMBV]
LDAP Injection [3-2APZ1KL]
Web application security [3-2APYM3X]
Blind SQL Injection [3-2APYM5E]
Still sending naked email? Get your protection here
T-Mobile G1 Google Android-based smartphone
Ubuntu 8.10 - All Hail new Network Manager
OpenOffice 3.0 - the only option for masochistic Linux users