SEC Settles with Anderson, Pursuing Heinen [Updated: Apple Cleared]
The settlement includes a $150,000 fine and repayment of option gains of about $3.5 million. This settlement avoids any admission of wrongdoing from the former CFO.
Meanwhile, it appears that the SEC will pursue legal action against former general counsel Nancy Heinen.
Heinen, who will be accused of manipulating one of her own option awards as well as a grant to Steve Jobs, Apple's chief executive, plans to contest the charges, the Journal reported.
The most recent reports have cleared Steve Jobs of any charges regarding the matter.
Update: The SEC has officially announced the above proceedings, and adds that it will not pursue any legal action against Apple itself.
The Commission also announced today that it would not bring any enforcement action against Apple based in part on its swift, extensive, and extraordinary cooperation in the Commission's investigation. Apple's cooperation consisted of, among other things, prompt self-reporting, an independent internal investigation, the sharing of the results of that investigation with the government, and the implementation of new controls designed to prevent the recurrence of fraudulent conduct.
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The year where we hear just as much or more about Apple Executives and Stock scandals than we do about new products. 2007, It's just the beginning. ;)
It sure seems like it, doesn't it? But if they settled with Anderson, and don't pursue Jobs (the only two high profile people in the case) the story value drops dramatically.
Which just might mean another month, then done.
Woot!
:D
at least Anderson settled and hopefully it's over with for him.
but we'll be hearing more about Heinen though
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
Right -- if the guy is truly innocent he should ask for his day in court.
I say we throw the lot out and start from scratch! Any volunteers for CEO?
Why on earth can you "settle" with the government? It's funny how you can basically buy your way out of being a criminal. You pay them $3.5 million and now nothing happened? "I knowingly tried to steal millions of dollars from Apple's shareholders, but yeah, I'm not guilty because I'm giving it to the government instead". Ah, the American Way.
Though it does appear to be quite sad, it probably saved the American Tax Payers much money to go after this guy and then later the cost of jailing him.
3.5 million is like nothing to them.
Makes me sick.
-Clive
err ****ing edits
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