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 April 23rd

Tue, 8:00 PM
Apple v. Samsung: Google to Cover Some Costs, Assume Some Liability
7:30 PM
Apple Expands In-Store Trade-In Program to iPads and More
2:45 PM
Apple to Samsung: If You Want to Copy Us, Think Environment
2:14 PM
Apple Releases Security Update 2014-002 for Mavericks, Lion, Mountain Lion
1:09 PM
Apple Rolls Out 6.1.1 Update for 2nd, 3rd Gen Apple TV
1:03 PM
Apple Releases iOS 7.1.1 with Improved Touch ID, Bug Fixes
11:45 AM
Jailbroken iPhones Give Up Apple IDs in Malware Attack
10:01 AM
Report Claims Rumored 5.5-inch iPhone 6 Delayed Until 2015
9:08 AM
Apple Hires FDA Expert Divya Nag for Health and Fitness Team
Mon, 7:45 PM
How Apple Could Have Increased iPad Sales, But Didn’t
7:12 PM
Google Camera Saves The World…From Vertical Video
6:55 PM
Samsung Argues that Apple Should Get $38.4 million, Not $2 Billion
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!