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 TMO Headlines - Updated June 24th

Fri, 6:18 PM
New Photo Pairs iPhone 8 Mockup and Already Available Screen Protector
Fri, 5:26 PM
How to Start a Campfire With a Plastic Sandwich Bag and Water
Fri, 4:43 PM
Consumers Trust Amazon More Than Apple
Fri, 4:14 PM
Popular Punchh Restaurant Loyalty Program Comes to Apple Pay
Fri, 2:36 PM
AirVinyl Designs Skins for AirPods Case Video Review
Fri, 2:08 PM
Smarter Coffee Brews How You Want, When You Want
Fri, 1:05 PM
The Big Swift Playgrounds Show - TMO Daily Observations 2017-06-23
Fri, 11:31 AM
Off the Tracks: A Final Cut Pro X Documentary
Fri, 11:27 AM
Aura Premium 1-Year Subscription: $29.99
Fri, 10:28 AM
Calendar: Contacting Event Invitees
Fri, 9:22 AM
2017 McAfee Threat Report Shows Spike in Mac Malware
Fri, 7:31 AM
3D Touch Multitasking Currently Missing From iOS 11 Betas

Warning: session_start(): Cannot send session cookie - headers already sent by (output started at /var/www/bbm/macobserver.com/ee2/www/htdocs/wp-content/plugins/w3-total-cache/PgCache_ContentGrabber.php:339) in /var/www/bbm/macobserver.com/ee2/www/htdocs/wp-content/plugins/wordpress-social-login/wp-social-login.php on line 64

Warning: session_start(): Cannot send session cache limiter - headers already sent (output started at /var/www/bbm/macobserver.com/ee2/www/htdocs/wp-content/plugins/w3-total-cache/PgCache_ContentGrabber.php:339) in /var/www/bbm/macobserver.com/ee2/www/htdocs/wp-content/plugins/wordpress-social-login/wp-social-login.php on line 64
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!