The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
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.

Recent Headlines - Updated December 1st

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Mon,7:25 PM
How to Trace Drawings and Photos on Your iPad Pro
7:10 PM
CompTIA-IT Certification Career Advancement Bundle: $59
5:50 PM
Jeremy Clarkson’s Video Pitches Amazon Prime Air
5:26 PM
MGG 581: Hints and Allegations for Cyber Monday
3:55 PM
NSA Ends Bulk Phone Record Collection
3:42 PM
One Analyst Thinks Apple Had Best Black Friday ‘in Its Entire History’
3:00 PM
TMO Background Mode: Interview With Naomi Pearce From Pearce Communications
2:09 PM
TMO Daily Observations 2015-11-30: NSA Data Collection Changes, Amazon Instant Video on Apple TV
1:47 PM
Apple Music Beta Comes to Sonos on December 15th
10:27 AM
Apple Sued for Wiping iPhone Data at Genius Bar
9:26 AM
Amazon Feedback Says Prime Video Coming to Apple TV
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!