Computer maker Apple’s stock price took a bashing yesterday following reports executives had falsified stock option documents as part of an ongoing internal investigation.
Nasdaq shares in the company dipped 4.4% early Wednesday after the controversial issue of back dating stock options to assure executive profits. The price saw a slight recovery by the end of trading to finish a cent up, to $81.52, compared to the previous day’s price.
The reports surfaced yesterday on newswire, Law.com on Tuesday, as a result of discoveried made during Apple’s internal probe into the issue. Although it did not make clear whether it was confirmed whether the documentation uncovered had been falsified.
The company has delayed filing its latest financial results with the US Securities and Exchange Commission (SEC) due to the ongoing investigations, but has at all times, been keen to distance its chief executive Steve Jobs from any involvement in the scandal. A report into the investigation is due out in the next few days.