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 CEO Subpoenaed in Heinen Backdating Case

Apple CEO Subpoenaed in Heinen Backdating Case

by , 9:50 AM EDT, September 20th, 2007

Apple CEO Steve Jobs has been subpoenaed by the Securities and Exchange Commission to give a deposition in the company's backdating scandal involving former general counsel Nancy Heinen. The subpoena relates to the lawsuit the SEC brought against Ms. Heinen, and is not part of an investigation into the Cupertino-based company, according to Bloomberg.

The SEC sued Ms. Heinen in April claiming she inappropriately backdated stock option grants for company executives including a 7.5 million share grant to Mr. Jobs. Mr. Jobs later surrendered the options without exercising them.

Apple was the focus of an SEC investigation for allegedly backdating stock option grants to be more favorable to the recipients. Apple conducted its own independent investigation that cleared its high profile CEO of any wrong doing.

Former CFO Fred Anderson was also under investigation at one point, but settled with the government for his involvement in the backdating incidents. He agreed to surrender US$3.5 million in gains from stock option grants he was awarded, and pay a $150,000 fine. In exchange, he did not have to admit that he did anything wrong.

Recent TMO Headlines - Updated September 20th

Fri, 7:02 PM
This is What an iPhone 12 Case Looks Like
Fri, 6:13 PM
Apple Just Made Selecting an iPad Really Hard
Fri, 4:01 PM
The Trait Steve Jobs Believed Indicated High Intelligence
Fri, 3:57 PM
EU May Force Apple to Give Rivals Access to Apple Pay Tech
Fri, 3:16 PM
LG's webOS OLED TV: The Best Accessory for Your Apple TV+ Subscription
Fri, 3:15 PM
iOS 14 Introduces Awesome New 'Back Tap' Accessibility Feature
Fri, 2:37 PM
Security Friday, Safari, Watch Pulse Oximeter – TMO Daily Observations 2020-09-18
Fri, 1:54 PM
Incipio, Survivor Launch iPad Air 4 Cases and iPad 8 Cases
Fri, 1:42 PM
Exclusive: Bill Lawrence on the Success of 'Ted Lasso' on Apple TV+
Fri, 1:39 PM
Safari 14 is out and it’s not Just for macOS Big Sur
Fri, 11:21 AM
What’s New in iOS 14 Game Center? Everything
Fri, 10:56 AM
iOS 14 Reveals Facebook Spying on Your Camera Through Instagram
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!