August 11, 2006 7:55 AM PDT

Apple delays SEC filing

Apple Computer has postponed its quarterly financial filing with the U.S. Securities and Exchange Commission due to a review of stock option grants and an anticipated restatement of previous filings.

The information became public Friday in a filing Apple made with the SEC. Scores of tech companies, including News.com publisher CNET Networks, are under federal investigation over the possible manipulation of the timing of stock option grants.

Apple, which announced in late June that it found questionable stock option grants for the period between 1997 and 2001, noted that its internal investigation is still ongoing.

"Based on the evidence of irregularities discovered to date, management has concluded, and the audit committee of the board of directors agrees, that the company will likely need to restate its historical financial statements," Apple said.

The company has not yet determined the amount of the charges or the related tax and accounting consequences.

The now-delayed SEC filing, called a 10-Q, was supposed to follow Apple's release of its third-quarter results last month. After companies announce their quarterly results publicly, they must later file a much more detailed report with the SEC. Apple said it will file its more detailed report once its internal investigation is complete.

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6 comments

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Huh?
What the hell does this mean to us non-finacial advisors but mere
technologists. ;) Does this mean that Apple's renuve and profits in
that time peroid are inaccurate, that someone is going to jail, or
what?
Posted by Nicholas Buenk (220 comments )
Reply Link Flag
because...
CNet likes to reports on news related to companies on both Technical and Financial basis.

Even tho they are not a Financial web site, they would also I bet like to be.
Posted by rmiecznik (224 comments )
Link Flag
Bill Gates
should be investigated for making worthless software.
Posted by paulsecic (298 comments )
Link Flag
Steve Jobs should be sent to jail
CEOs of Juniper, Brocade, Apple and CNet should be in jail - not to mention the 'board of directors', the scum bags who sits around an make a load of money.
Posted by pdude (65 comments )
Link Flag
Take some Ridlin and stay on the subject
What a dumb comment. Jobs and others may face fail time for cooking the books by back dating stock options. I hear Al Gore faces possible scrutinity too. LOL.
Posted by WJeansonne (480 comments )
Reply Link Flag
 

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