b The backdating and repricing of stock options became a huge public issue last decade, almost immediately after the WorldCom and Enron scandals rocked the business world, which resulted in the passage of the Sarbanes-Oxley Act of 2002. The timing of this backdating and repricing of stock options occurred in the years that followed the Internet stock market bust in 2000 and 2001, followed closely by the events of September 11, 2001. Questions/Requirements Explain in detail what is meant by the backdating and repricing of stock options. Be specific. Conduct research regarding a SEC investigation of Apple backdating its stock options and the deposition of Steve Jobs. Summarize IN YOUR OWN WORDS the results of that disposition. Did anyone at Apple get into trouble with the SEC in regards to the backdating of the stock options? If so, who and why? Comment on the ethics of backdating stock options. Summarize the best and most authoritative literature you can find on this subject. Do you believe that either the backdating or the repricing, or the combination of backdating and repricing at the same time, constitutes an act of fraud? Why or why not? Be specific. This is the most important question in this assignment, so make sure your research and answers are well grounded, explained, and written.
