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 TMO Headlines - Updated September 30th
- Fri, 10:00 AM
- Get 8 Mac Utilities for Free
- Fri, 9:57 AM
- CW Shows Come to Apple TV, No Cable Subscription Required
- Thu, 9:34 PM
- Safari 10: Hide Flash from Every Website Except Some
- Thu, 6:53 PM
- Use 3D Touch in LINE to Read Messages without a Read Receipt
- Thu, 5:55 PM
- Apple Rolls iPhone 7 Commercial, "Balloons"
- Thu, 5:22 PM
- My Fantasy Wish List for Apple's October Event
- Thu, 1:48 PM
- How to Make macOS Sierra Empty Your Mac's Trash for You
- Thu, 1:23 PM
- TMO Daily Observations 2016-09-29: John's Apple Product Wish List
- Thu, 12:47 PM
- Smartphone Photo and Video Certification Bundle: $29
- Thu, 10:47 AM
- New Retina MacBook Pro Models Expected in October
- Wed, 7:44 PM
- 8Bitdo Goes Retro with Apple-themed Game Controller for iPhone, iPad
- Wed, 5:16 PM
- ACM 378: Life Without a Headphone Jack, More Apple Watch, Siri on the Mac
