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Apple delays annual report due to options probe

post #1 of 6
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Apple Computer said friday it was unable to file its Form 10-K for the 2006 fiscal year as a result of an ongoing internal probe into its stock options irregularities.

In a filing with the Securities and Exchange Commission, the Cupertino, Calif.-based Mac maker reiterated the need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.

"The company is in the process of finalizing its conclusions regarding the amount of such charges, the resulting tax and accounting impact, and which periods require restatement," Apple wrote.

Consequently, the company said it unable to file its Form 10-K for the year ended September 30, 2006 by the required filing date of December 14, 2006.

After discovering irregularities related to historical past stock option grants earlier in the year, Apple in August proactively announced that its internal audit committee turned up additional evidence of irregularities and that it would likely need to restate its historical financial statements as a result.

In its filing with the SEC friday, Apple said it now anticipates that it will file its Form 10-K on or before December 29, 2006.
post #2 of 6
Great. APPL begins to sink again.
I got nothin'.
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I got nothin'.
Reply
post #3 of 6
Dont fuck with Steve Jobs you`ll get the horns!
post #4 of 6
I thought this was sewn up already?! Damn you, SEC!

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

Reply
post #5 of 6
Imo, Apple deserves to be delisted right now for dragging this nonsense situation even longer than expected, which could wipe out all/part of the good news on increased Mac/iPod sales.
post #6 of 6
Quote:
Originally Posted by scott523

Imo, Apple deserves to be delisted right now for dragging this nonsense situation even longer than expected, which could wipe out all/part of the good news on increased Mac/iPod sales.

Good thing you have no influence at the SEC.

Proud AAPL stock owner.

 

GOA

Reply

Proud AAPL stock owner.

 

GOA

Reply
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