Apple Nasdaq Notice and Quarterly Filing
This delay has prompted a warning from Nasdaq that Apple is not in compliance with the exchange's rules:
"We fully anticipated receipt of this letter," Apple spokeswoman Katie Cotton told CNET News.com. "It's a matter of procedure. We're focused on resolving this matter as quickly as possible."
Meanwhile, Apple has requested a hearing and Apple's stock will remain listed in Nasdaq pending that hearing.
As first announced on June 29, 2006, an internal investigation discovered irregularities related to the issuance of certain stock option grants made by the Company between 1997 and 2001, and the Company has proactively informed the SEC. The Company is focused on resolving these issues as quickly as possible and plans to file its Form 10-Q following completion of the independent investigation by the special committee of Apple's outside directors.
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Anyway, I wonder what impact this will have on their stock this quarter.
Well, Digg had this two days ago...
Anyway, I wonder what impact this will have on their stock this quarter.
The newspapers had it on Friday.
The impact will depend on how much Apple has to revise their profit statements to comply, which I presume we'll learn soon.
I don't know if Wall Street regards this as major. Last week, I think, was just some profit-taking after the recent runup from about $45.
This will be settled....
Hah, it is sad to see Apple get pulled down into this. For apple to back date stock options, in order to have some executives get more money is a double edged sword.
sure some talented execs are happy. But the losers will be the stockholders who will be bitten by this snake.
My Bet, Apple will have to take a major quarterly charge!! perhaps enough to throw it into a loss for the quarter, yes i mean a charge wiping out all profits.
all of this hinges on how much of this bs happened.
no matter how you look at it, this isnt good for apple. however at least they aren't trying to cover it up.
My platform of choice will continue regardless :)
The potentially bad part about this investigation is during the time of the options Apple had no "compensation committee".All compensation was approved by the board of directors.This could put Jobs in a bad position.
I think this was SOP at most corporations until recently.
reported 97 cents of an expected range of $0.97 - $1.01.
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