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.
Observer Comments
Comments are currently closed. Please email the author instead.
Recent Headlines - Updated November 5th
- Thu, 5:56 PM
- News - IDC: Q3 2009 Smartphone Market Grew, iPhone Up, Android Reaching Critical Mass
- 5:06 PM
- Games - EA’s Spore Franchise Expands to Facebook
- 4:56 PM
- News - Research In Motion to Repurchase Shares Following Stock Selloff
- 4:49 PM
- Games - Jules Verne’s Secrets of the Mysterious Island, Other Titles Hit App Store
- 4:07 PM
- News - Apple Ads Target People Looking for Windows 7 Download Help
- 3:04 PM
- How-To - BBEdit’s Command Line Functions
- 1:32 PM
- Deal Brothers - Apple MacBook Pro MB991LL/A 13.3-Inch Laptop: $1410.00
- 11:48 AM
- News - Psystar to Court: Just Say We’re Legit
- 11:10 AM
- Quick Look Review - Kensington Windshield/Vent Car Mount with Sound Amplified Cradle for iPhone
- 10:36 AM
- Hot Forum Topic - Online Protection for Kids
- 9:51 AM
- News - CNET Dubs iPhone the Worst Phone in the World
- 9:15 AM
- News - Fortune CEO of the Decade: Steve Jobs
The Mac Observer Reader Specials
- TypeStyler For Mac OS X is Now Shipping! Download The Free Fully Functional 60 Day Tryout at www.typestyler.com
RamJet Memory: Mac Pro 8-core 8GB Kit $199.99, 4GB Kits $109.99! Sale on MacBook and MacBook Pro 8GB kits $549.99! New MacBook DDR3 2GB for $49.99. iMac and Mac mini 4GB Kits for $79.99! 1TB SATA Hard Drives for $109.99! Click here
OWC: Get the Right Memory for Your Mac Top Quality, Competitive Price, Lifetime Backed Free Expert Support + Installation Videos too! MacBook & mini 8GB, iMac 16GB, Mac Pro up to 32GB
If you're using a Mac, then you've gotta check out Full Tilt Poker for Mac. This Full Tilt Poker bonus code does the unthinkable, it actually rewards!For the latest Apple products use Ciao, a price comparison website, to find laptops like MacBook Air. Then find the best prices on MP3 players and use our comparison tool to evaluate mobile phones like the Apple iPhone.
Laptop Hardware Provided by TechRestore - Overnight Mac & iPod Repairs.
