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's Former General Counsel Settles SEC Charges

Apple's Former General Counsel Settles SEC Charges

by , 1:50 PM EDT, August 14th, 2008

Apple's former General Counsel, Nancy Heinen, has settled the case brought by the Securities and Exchange Commission against her for fraudulently backdating Apple stock. She agreed to pay the SEC US$2.2M in restitution and penalties.

Ms. Heinen, without admitting guilt, also agreed to not serve as the officer or director of a public company for five years.

The charges stemmed from large option grants to senior executives of Apple, including Steve Jobs, in December of 2001. The SEC said the Ms. Heinen had altered documents to conceal the backdating and that Apple underreported its expenses by almost US$40M as a result.

"I cherish the great people I worked with at Apple, and I am proud of my contributions to its historic turnaround and current success," Ms. Heinen said in a statement. "With this lawsuit behind me, I look forward to addressing the greater challenges of social justice and economic disparity."

Recent Headlines - Updated August 2nd

Fri,8:43 PM
How to Identify Power Bricks in One Clever Stroke
6:48 PM
Legal Mobile Phone Unlocking Bill to Be Signed into Law
6:18 PM
Brilliant ‘Apple Clickbait Generator’ Makes Apple-Doomed-Articles
6:15 PM
Microsoft’s Sobering Realization: It Can Never Win, Place or Show in the Hardware War
6:10 PM
Kensington X3 Bluetooth Keyboard/Case for iPad Air Can Also Partially Charge it
4:12 PM
Complete iOS 8 + Swift Developers Course (Pre-Order) for $79
1:07 PM
TMO Daily Observations: 2014-08-01
11:18 AM
Apple to Beats: Welcome to the Family
10:42 AM
BadUSB: Undetectable USB flaw Could Expose all Your Tech Gear to Hackers
9:48 AM
Apple Buys Vivendi’s Stake in Beats for $404M [Updated]
8:45 AM
OS X: Configuring FileVault
Thu,9:43 PM
U.S. Appeals Court Rules Microsoft Must Turn Over Email Hosted in Ireland
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!