The allegations surround stock option backdating, a practice that was once commonplace in the technology sector.The provincial stocks regulator said the executives were negligent in overseeing the option backdating, but did not commit fraud.The roots of the scandal date back to 1972, when an accounting rule was put in place permitting companies to avoid recording executive compensation as an expense on their income statements so long as the income was in the form of stock options that were granted at a rate equal to the market price on the day of the grant, often referred to as an at-the-money grant.This enabled companies to issue enormous compensation packages to senior executives without notifying shareholders.
Also included are several other executives and directors from one of the most successful companies in the history of Canada.
"We are responsible, Mike and I are the CEOs and we don't duck it.
We put our money on the table and we stand behind it," Mr. The company said its executives will also repay all the benefit they received from options that were incorrectly priced. Balsillie said his own obligation will be "far, far less" than the -million he has volunteered to pay to cover the investigation costs.
Several companies already make Lightning headphones, and Apple has supported the concept since June 2014.
Zj The Apple Store app for i Phone, which periodically rewards users with free app gifts, is now offering the i Phone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28.