Apple has warned that its ongoing investigation into historical stock options backdating practices could see it removed from the Nasdaq Global Select Market.
The Nasdaq Global Select Market includes around one-in-three Nasdaq-listed companies. Membership of the list means that a company is considered respectable in the way it handles accounting and corporate governance.
However, the ongoing Securities and Exchange Commission (SEC) and Department of Justice (DoJ) investigation into Apple's confirmed stock options backdating errors may cause the company's stock to be removed from the Global Select Market.
Apple management has also warned that the ongoing enquiry is likely to be time consuming, expensive and may distract senior management from the conduct of the company's business.