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 September 30th

Tue,9:33 AM
EU Ready to Detail Apple Ireland Tax Investigation, not Impose Fines
5:23 AM
Apple Will Launch iPhone 6 in China on October 17th after Assuaging Chinese Security Concerns
Mon,7:58 PM
3-In-1 Mobile Lens Kit for iPhone 4/4s/5/5s/5c/6/6+ for $24.99
7:32 PM
Facebook Launches Atlas Ad Network to Sell You Elsewhere
7:01 PM
PSA: Some Users Reporting Data Loss with iCloud ‘Reset All Settings’
6:14 PM
Laurene Powell Jobs 28th Wealthiest American, 4th Richest American Woman
5:45 PM
Apple Releases Shellshock Security Update for Mavericks, Mountain Lion, Lion
4:58 PM
How to Use iOS 8’s Photos Extensions
4:53 PM
Meet Ello, the Social Network Where You Are Not The Product
4:25 PM
4 Science Oriented Apps that Support iOS 8 Notification Center
1:51 PM
TMO Daily Observations: 2014-09-29
11:12 AM
iOS 8 Rollbacks Shut Down, Apple Stops Signing iOS 7.1.2
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!