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Lie Comments on Backdating Investigation

Macworld Expo is less than a week away and yet the headlines are not dominated by the iPod phone or iTV, but by the widespread use of backdating to sweeten the value of options granted to Apple Computer Inc. executives, including CEO Steve Jobs. So what does ERIK LIE, the University of Iowa professor behind the research that exposed the backdating scandal, think of all the brouhaha surrounding Jobs, who was declared innocent of all wrongdoing by his company's internal investigation and the Wall Street analysts who cover the company? Interestingly, Lie isn't so concerned with the October 2001 board meeting that never happened to approve a stock options grant to Jobs. That's because Apple didn't grant the options to Jobs at the lowest possible ebb in the stock price. But other options grants did take advantage of the lowest ebb right before a stock price spike and that concerns Lie more.


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