The stock-options backdating scandal just won't go away.

Apple Inc. shareholders last week filed a class action lawsuitcharging former CFO Fred Anderson and other executives withintentionally filing false documents in an attempt to conceal stockoption grants to executives. The suit came shortly after theDepartment of Justice (DOJ) reportedly dropped its federal probe ofApple itself and its CEO, Steve Jobs. Neither the DOJ nor Applewould comment.

Also, the Securities and Exchange Commission (SEC) accusedMicrotune ex-CFO Nancy Richardson and other colleagues of civilfraud, days after the SEC settled an options backdating case withcable-chip maker Microtune itself. Richardson's attorney SusanResley, said in a statement, that she will fight the charges, whichseek financial penalties and other relief under the “clawback”provision of the Sarbanes-Oxley Act to recover money executiveswrongfully earned while misleading investors. “From the day Ms.Richardson walked into the job until the day she left, she lostmoney on the options the SEC alleges she backdated,” Resley said,adding that Richardson stopped the improper practice as soon as itcame to her attention.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.