Jacob "Kobi" Alexander, 64, will plead guilty to one count of backdating stock options, the lawyer, Benjamin Brafman, said in an email.
(who broke the backdating story), Jobs was awarded 7.5 million shares approved at Apple’s August 29, 2001, board meeting. However, because Jobs continued to argue over the point at which they would vest, Apple missed the deadlines it needed to file the right information with the Securities and Exchange Commssion and its auditors.
April 1 1976: Steve Jobs, Steve Wozniak and Ron Wayne cofound Apple 1977: Apple II computer introduced 1980: Apple goes public 1984: Original Mac introduced, selling for ,495.
The former Comverse Technology chief executive officer who authorities say fled to Africa a decade ago to avoid prosecution in a stock options scandal will return to the United States and plead guilty to a criminal charge, his lawyer said on Monday.
The total compensation to executives granted back-dated options was either unchanged or, perhaps, lower than it would have been, since people tend to irrationally over-value a bird in hand (in the money options) to a dozen in the bush (out of the money options).
But it all became worse than a pseudo-scandal, in fact.