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 30th

Wed,3:10 PM
How to Deauthorize All Devices in iTunes 12
Fri,5:00 PM
Swatch Plans to Release Internet-Connected Smartwatch Late Summer
4:50 PM
Hope Springs Eternal: a New Approach to OS X at WWDC
3:32 PM
Complete Arduino Starter Kit and Course Bundle: $75.99
1:45 PM
TMO Daily Observations 2015-05-29: The Big iCloud Photos Alternatives Show
12:45 PM
OS X: A Better Way to Handle Tabs in Apple’s Safari
11:21 AM
Skype for Mac Hotfix Released to fix Audio Selection Issues
11:19 AM
Apple’s Fix for the Messages Text String Crash
10:50 AM
Want Great Movie Deals? There’s an App for That
9:55 AM
Apple Buys Augmented Reality Company Metaio
9:14 AM
Use AppleScript To Create a Custom Evernote PDF Menu Action
8:40 AM
Safari: Turning Off Push Notifications
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!