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 May 27th

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Thu,11:02 PM
HP Envy 34c Curved Display Video Review
6:18 PM
Thinking Differently about Apple Spending Billions to Buy a Big Media Company
5:30 PM
Civilization: Beyond Earth – The Collection: $29.99
1:22 PM
TMO Daily Observations 2016-05-26: Apple’s Siri Speaker, HP’s Envy 34c Display
1:00 PM
The Display You’ve Always Wanted For Your Mac: HP Z34c
9:15 AM
iCloud: Restoring Bookmarks from Backup
Wed,4:40 PM
ACM 361: Purism, Privacy, Apple, and Surveillance Capitalism
4:37 PM
iOS Coding Mastery Bundle: $39
3:58 PM
Apple Can’t Keep a Secret
2:05 PM
Apple’s Penchant for Privacy Makes Siri ‘Speaker’ Hard, but That’s Why We’ll Want It
1:33 PM
TMO Daily Observations 2016-05-25: Apple Hires Jon Callas, Microsoft’s Smartphone Failure
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!