Shares of Apple computer are continuously facing a downfall after Federal investigation into the company’s stock options brought the CEO of the company in limelight.
The shares of the company fell 5 percent on Wednesday before gaining some speed and the trend continued on Thursday when the shares slid 2 percent before rebounding and finally closing down at $80.87 that was down 65 cents.
The financial times has reported that the Jobs received 7.5 million stock options in 2001 without any approval from the board and he later forged the documents to indicate that he had received the consent of the board.
The US Securities and Exchange Commission is digging into the matter in its review that Jobs was involved in Backdating the stick options.
But the company had already absolved Jobs when they it did not find him any misconduct by the management.
Experts have commented that if it is proved that Jobs knew about the falsification of the documents then he can be in trouble.
The practice of faking documents to show that a meeting took place to show that and supported the occurrence of backdating of options in Corporate America is not a surprise and till now 200 companies have had such history.
The only way out for Jobs is to prove that the falsification has been done by other members of the company and he has no knowledge of the matter.
Via: theage
