Apple (AAPL-NASDAQ) issued a press release ahead of earnings. It essentially says they aren’t going to debate the options issue in public. Board Members Bill Campbell, Millard Drexler, Albert Gore Jr., Arthur D. Levinson, Eric Schmidt and Jerry York today released the following statement:
We are not going to enter into a public debate with Fred 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 SEC investigated the matter thoroughly and its complaint speaks for itself, in terms of what it says, what it does not say, who it charges, and who it does not charge. We have complete confidence in the conclusions of Apple’s independent investigation, and in Steve’s integrity and his ability to lead Apple.
This will take the backseat to earnings because there is likely not an immediate known outcome. The consensus is that Steve Jobs is going to not have much personal exposure to the issue at this point. For whatever this is worth, it does seem a tad odd that the company would issue a statement like this right before earnings.
Jon C. Ogg
April 25, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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