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 June 25th

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Fri,7:00 PM
Apple Kills the Thunderbolt Display - Will the Mac Pro Be Next?
6:54 PM
6 Great Display Choices for Your MacBook Pro and Mac Pro
6:25 PM
Apple Drops 2.81% in Broad Brexit Selloff
5:01 PM
G Cloud Unlimited Backup for iPhone and Android: 5-Year Subscription for $29.99
1:46 PM
TMO Daily Observations 2016-06-24: Goodbye Thunderbolt Display, Spinning off the Mac
11:48 AM
Plex Media Server Turns 1.0!
9:05 AM
OS X: Using Policy Banner for Custom Login Screens
Thu,9:01 PM
Apple Discontinues Thunderbolt Display, Directs Customers to Unspecified 3rd Party Displays
8:55 PM
Apple Adds RAW Support for 15 DSLR Cameras from Canon, Olympus, Panasonic, Sony
6:20 PM
How to Display Calories or kJ on your iPhone/Apple Watch Health Apps
5:20 PM
Ingrein ‘Smartclock’ Shows Important Notifications to Help You Detach from Your Screen
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!