mac apps

In 2001, Jobs was granted stock options in the amount of 7.5 million shares of Apple with an exercise price of $18.30. It was alleged that the options had been backdated, and that the exercise price should have been $21.10. It was further alleged that Jobs had thereby incurred taxable income of $20,000,000 that he did not report, and that Apple overstated its earnings by that same amount. As a result, Jobs potentially faced a number of criminal charges and civil penalties. The case was the subject of active criminal and civil government investigations,[103] though an independent internal Apple investigation completed on December 29, 2006, found that Jobs was unaware of these issues and that the options granted to him were returned without being exercised in 2003.[104] On July 1, 2008, a $7-billion class action suit was filed against several members of the Apple Board of Directors for revenue lost due to the alleged securities fraud.[105][106]