The Justice Department has ended its criminal investigation against Apple for backdating stock options, according to The Wall Street Journal. After two years of investigation, charges will not be brought against the company or several current and former executives.
A spokesperson declined to comment for the U.S. Attorney’s Office and Apple. Apple’s general counsel, Nancy Heinen, is still contesting civil charges brought on by the Securities and Exchange Commission regarding misdated stock options awarded to Apple CEO Steve Jobs.
The SEC’s case is based on testimony from a lower-ranking former Apple lawyer, Wendy Howell, according to the WSJ. Howell’s lawyer, Tom Carlucci, said prosecutors have told him that no charges were expected to be filed.
Apple disclosed that an internal investigation found irregularities related to option grants between 1997 and 2007. The company said Jobs helped select dates for some of the backdated grants but argued no wrongdoing had been done.
The SEC had also sued Apple’s former finance chief, Fred Anderson. Anderson settled his civil case last year without admitting any wrongdoing. He paid $3.5 million in disgorgement fees.