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Jobs: Apple not under investigation by SEC

post #1 of 10
Thread Starter 
Apple Computer chief executive Steve Jobs spoke publicly for the first time this week about the company's ongoing stock options scandal, saying Apple currently faces no investigations outside of its own internal probe.

"We're mostly focused on our own house right now," Jobs told CNBC in an interview broadcast on Tuesday. "And we're not under investigation by the SEC or anyone else."

"But we did discover -- you know with all the press around this -- we started our own investigation and we did discover some irregularities and we're letting that investigation have its due course," he said. "And it will be completed in the not too terribly distant future."

Jobs added that Apple is "not really talking about it until that investigation is done," just to give the investigators "the benefit of doing a completely independent investigation."

During the interview, which aired following the Apple's "Showtime" event, Jobs also weighed in with some comments on the seasonality of iPod sales and his expectations for the company's upcoming holiday quarter.

"We have good expectations for how many iPods we're gonna sell next quarter, but we're in unchartered territory," he said. "We've never sold this many of anything before. And so we are learning as we go. But so far we are pretty happy."

Recently, Apple discovered irregularities relating to past stock option grants and said it will likely need to restate its historical financial statements as a result.



During the months of July and August, investors on behalf of the company filed several lawsuits in California courts, charging current and former executives and directors with colluding to backdate stock options in order to maximize their profits.

For their part in the matter, analysts on Wall Street have said that Jobs is unlikely to be implicated in the scandal. However, at least one former company executive is reported to have obtained legal council as a result of the matter.
post #2 of 10
Steve-O looked good on CNBC - healthy even.
post #3 of 10
Please don't start that this somehow means MBP's are about to be updated
post #4 of 10
Considering that there are now over 45 investigations open regarding this issue, the fact that Apple is not currently involved in one of them is very good news. Many of those investigations involves hi tech companies, so that is even better news.

I would like to see them finish it though.
post #5 of 10
Yes, this is very good news.

Proud AAPL stock owner.

 

GOA

Reply

Proud AAPL stock owner.

 

GOA

Reply
post #6 of 10
Anyone have the link to the video?
post #7 of 10
Quote:
Originally Posted by redison

Anyone have the link to the video?

Here. Not much, really.
post #8 of 10
Thanks. got it
post #9 of 10
Quote:
Originally Posted by kresh

Please don't start that this somehow means MBP's are about to be updated

MPBs are very often updated the week of photo and video industry trade shows, so maybe Sept 23 is your date.
post #10 of 10
The SEC situation is still unclear, according to:

http://www.law.com/jsp/ca/PubArticle...=1166782011784

Any Martha Stewart (once an "Apple Master")-like investigation
apparently is still an option. Though it's good to get the non-cash
charges out of way on the last business day of the year, I worry about
any potential treble damages related to the Jobs stock option grant later.

If the big grant is part of the re-statement (some say include it
because the non-cash charges are not material to future earnings),
this still leaves too much grist for the plaintiff attorney sharks.
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