Did Steve Jobs push the Apple board to break the law?

Published: March 5, 2008, 7:12 am

Tags: aapl, bruce wasserstein, brucewasserstein, fortune, laz, steve jobs, stevejobs

Filed under: Management, Insiders, Apple Inc (AAPL)Fortune (which shares parent Time Warner (NYSE: TWX) with BloggingStocks) provides at least two examples which raise questions about whether Apple Inc. (NASDAQ: AAPL) CEO Steve Jobs pushed the Apple board into violating the law. Two revelations in the article -- that Apple's board decided not to disclose Jobs's pancreatic cancer, for which he delayed surgery because he wanted to try a diet cure, and that Jobs set a backdated options date of January 16, 2001 which the board rubber-stamped, giving recipients a profit of either $1.6 million or $3.9 million -- make me wonder whether Jobs convinced Apple's board to break the law. As I posted in 2006, Lazard, Ltd.'s (NYSE: LAZ) board may have failed to disclose the illness of its CEO, Bruce Wasserstein, when reports surfaced that he was out of the office with a heart ailment. A lawyer I spoke with said that if a CEO is unable to do his or her job due to illness, the board must disclose

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