The SEC charges are the first in the months-long Apple investigation.
Management continues to believe, and the audit committee agrees, that Apple will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.
But as yet another executive who was once close to Jobs comes under the backdating cloud, one has to wonder: Is Jobs as innocent as Apple Inc. Or is the government afraid to go after one of the most respected leaders of American business? You can put him up there with Bill Gates and Warren Buffett," said Peter Henning, a professor who studies white-collar crime at Wayne State University in Detroit and one of the few legal scholars still paying attention to stock-options backdating.
"If you are going to put a case against him, you had better be sure it's a strong case." To be sure, regulators have in the past gone after celebrity business leaders.
SAN FRANCISCO (Market Watch) -- Steve Jobs has managed to revolutionize both the consumer electronics and entertainment industries, but the onetime wunderkind can't seem to shake the stigma of the stock-options backdating scandal that enveloped Silicon Valley in recent years.
This week, another former confidante to Jobs came under the microscope of federal regulators.