Apple today revealed that there were "irregularities" in some grants for stock options made in the years 1997 through 2001. The irregularities were reported to the U.S. Securities and Exchange Commission.
One such grant was made, apparently in January 2000, to CEO Steve Jobs. Because the options were canceled in March 2003 without being cashed in, Jobs saw no financial benefit. But financial analysts say that Apple's finances will be closely watched to see if there were any improprieties in Apple's disclosures or any evidence of backdating. Sales of discounted options in years past have been considered legal but sometimes problematic.
Apple hired an independent law firm to investigate the problems and the SEC will likely launch an inquiry as well.
Dozens of corporations, including Microsoft, Intuit, and Computer Associates, have announced that they are reviewing their option practices, which have come under increased scrutiny since enactment of the Sarbanes-Oxley corporate accountability law in 2002.
Apple did not detail the "irregularities" and said executives would refrain from commenting until the investigation was concluded. "Apple is a quality company and we are proactively and transparently disclosing what we have discovered to the SEC," said Mr Jobs. "We are focused on resolving these issues as quickly as possible."
Wednesday April 17, 2024 9:58 am PDT by Juli Clover
Game emulator apps have come and gone since Apple announced App Store support for them on April 5, but now popular game emulator Delta from developer Riley Testut is available for download. Testut is known as the developer behind GBA4iOS, an open-source emulator that was available for a brief time more than a decade ago. GBA4iOS led to Delta, an emulator that has been available outside of...
Tuesday April 16, 2024 6:54 am PDT by Tim Hardwick
Last September, Apple's iPhone 15 Pro models debuted with a new customizable Action button, offering faster access to a handful of functions, as well as the ability to assign Shortcuts. Apple is poised to include the feature on all upcoming iPhone 16 models, so we asked iPhone 15 Pro users what their experience has been with the additional button so far. The Action button replaces the switch ...
The lead developer of the multi-emulator app Provenance has told iMore that his team is working towards releasing the app on the App Store, but he did not provide a timeframe. Provenance is a frontend for many existing emulators, and it would allow iPhone and Apple TV users to emulate games released for a wide variety of classic game consoles, including the original PlayStation, GameCube, Wii,...
Wednesday April 17, 2024 12:19 pm PDT by Juli Clover
A decade ago, developer Riley Testut released the GBA4iOS emulator for iOS, and since it was against the rules at the time, Apple put a stop to downloads. Emulators have been a violation of the App Store rules for years, but that changed on April 5 when Apple suddenly reversed course and said that it was allowing retro game emulators on the App Store. Subscribe to the MacRumors YouTube channel ...
Tuesday April 16, 2024 11:33 am PDT by Joe Rossignol
The first approved Nintendo Entertainment System (NES) emulator for the iPhone and iPad was made available on the App Store today following Apple's rule change. The emulator is called Bimmy, and it was developed by Tom Salvo. On the App Store, Bimmy is described as a tool for testing and playing public domain/"homebrew" games created for the NES, but the app allows you to load ROMs for any...