Apple sees ‘significant’ restatement of July quarter results

Apple today said in a filing with the Securities and Exchange Commission that it will likely need to restate certain historical financial statements to record non-cash charges for compensation expenses related to past stock option grants, reports MarketWatch. “The company also disclosed it’s unable to file its completed Form 10-Q for the quarter ended July 1 by the required date due to the ongoing review of its stock option grant practices.

Read More