Apple Announces Update Regarding Stock Option Grants
- Aug 11, 2006 04:30 PM (PR Newswire)
CUPERTINO, Calif., Aug 11, 2006 /PRNewswire-FirstCall via COMTEX News
Network/ --
Apple(R) announced
that the Company will request a hearing before the NASDAQ Listing
Qualifications Panel in response to the receipt of a NASDAQ Staff
Determination letter today indicating that the Company is not in compliance
with the filing requirements for continued listing as set forth in Marketplace
Rule 4310(c)(14). As anticipated, the letter was issued in accordance with
NASDAQ procedures due to the delayed filing of the Company's Form 10-Q for the
quarter ended July 1, 2006. Pending a decision by the Panel, Apple shares
will remain listed on the NASDAQ Stock Market.
As first announced on June 29, 2006, an internal investigation discovered
irregularities related to the issuance of certain stock option grants made by
the Company between 1997 and 2001, and the Company has proactively informed
the SEC. The Company is focused on resolving these issues as quickly as
possible and plans to file its Form 10-Q following completion of the
independent investigation by the special committee of Apple's outside
directors.
...
- http://www.quote.com/home/news/story.asp?story=60469628
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