In a statement Apple announced that it found questionable stock option grants for the period between 1997 and 2001 and mentioned that it is conducting an internal investigation:
"Based on the evidence of irregularities discovered to date, management has concluded, and the audit committee of the board of directors agrees, that the company will likely need to restate its historical financial statements."
Apple has requested a hearing before the NASDAQ Listing Qualifications Panel.
From CNET/ZDNET: http://news.zdnet.com/2100-1040_22-6104812.html
Found at: tradingmarkets.com
Apple Computer Inc. (AAPL) announced after the close on Friday that it will request a hearing before the NASDAQ Listing Qualifications Panel. The request is in response to the receipt of a NASDAQ Staff Determination letter, which indicates that the company is not in compliance with the filing requirements for continued listing.