Apple board rushes to Jobs's defence

Apple's board of directors has issued a statement in support of chief executive and co-founder Steve Jobs, denying allegations by former chief financial officer Fred Anderson that Jobs approved illegal stock option back-dating. "We are not going to enter into a public debate with Anderson or his lawyer. Steve Jobs cooperated fully with Apple's independent investigation and with the government's investigation of stock option grants at Apple." The board's statement also noted that an internal investigation found no wrongdoing by Jobs, and that the SEC cleared Apple from any charges in the case. However, SEC associate regional director Marc Fagel emphasized that the decision did not apply to individual employees within the company.

News source: vnunet

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