SEC To Re-Investigate Jobs?
With Fred Anderson's recent statement claiming he warned Apple CEO Steve Jobs of the financial and legal repercussions of his backdated option grant, SiliconValley.com reports that the SEC may have renewed interest in Jobs.
"The SEC would typically find (allegations such as Anderson's) important," added Kathleen Bisaccia, former chief of enforcement for the SEC in San Francisco.
Lawyers familiar with the case say Anderson's statements could prompt government lawyers to examine whether Jobs made any false statements to investigators. "From a due diligence perspective, you'd have to look at it," said one former prosecutor familiar with securities fraud probes.
The article goes on to point out that Mr. Anderson's own conduct could come under further scruitiny. Lawyers familiar with the case have reported to SiliconValley.com that Anderson took his 5th Amendment right not to testify during the investigation. Therefore, his election to disclose this information in a formal press release after he settled with the SEC is quite interesting indeed.
The SEC has not yet formally responded to Mr. Anderson's statements, although Apple's Board of Directors has expressed confidence in Mr. Jobs.