Apple CEO Subpoenaed in Heinen Backdating Case
Apple CEO Subpoenaed in Heinen Backdating Case
by , 9:50 AM EDT, September 20th, 2007
Apple CEO Steve Jobs has been subpoenaed by the Securities and Exchange Commission to give a deposition in the company's backdating scandal involving former general counsel Nancy Heinen. The subpoena relates to the lawsuit the SEC brought against Ms. Heinen, and is not part of an investigation into the Cupertino-based company, according to Bloomberg.
The SEC sued Ms. Heinen in April claiming she inappropriately backdated stock option grants for company executives including a 7.5 million share grant to Mr. Jobs. Mr. Jobs later surrendered the options without exercising them.
Apple was the focus of an SEC investigation for allegedly backdating stock option grants to be more favorable to the recipients. Apple conducted its own independent investigation that cleared its high profile CEO of any wrong doing.
Former CFO Fred Anderson was also under investigation at one point, but settled with the government for his involvement in the backdating incidents. He agreed to surrender US$3.5 million in gains from stock option grants he was awarded, and pay a $150,000 fine. In exchange, he did not have to admit that he did anything wrong.
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110
Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112
Fatal error: Call to a member function sql_query() on a non-object in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 532
Recent Headlines - Updated May 19th
- Sat, 10:30 AM
- How-To - How to Assign Custom Icons to Desktop Files & Folders in OS X
- Fri, 8:10 PM
- Free on iTunes - 3 Free iOS Apps We Hope You Never Need
- 7:52 PM
- The Back Page - Apple’s ‘iRadio’ Streaming Excites Labels, Sony Hung on Skipping
- 3:50 PM
- Particle Debris - How the War Between Apple & Google Will be Won
- 3:29 PM
- News - Pentagon Approves iPhone & iPad for Military Use
- 1:10 PM
- TMO Quick Tip - Apple TV: Hiding Unused Icons from the Main Screen
- 10:40 AM
- Sci-Fi Airshow
- 9:17 AM
- News - CW Signs Content Deal for Apple TV
- 8:31 AM
- TMO Quick Tip - iTunes 11.0.3: New MiniPlayer Features
- Thu, 5:25 PM
- Analysis - Apple CEO Tim Cook Will Propose Corporate Tax Overhaul, Report
- 4:07 PM
- myPhoneDesktop Allows You to Send Data from Mac/PC to iPhone
- 3:03 PM
- iLuv Ships ‘Aud 5’ Lightning Speaker Dock for iPhone 5
The Mac Observer Reader Specials
Support TMO, Buy from Amazon, MacMall and The Apple Store
