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SEC Settles with Anderson, Pursuing Heinen [Updated: Apple Cleared]
As followup to the ongoing backdating story at Apple, Reuters reports that former Apple CFO Fred Anderson has settled with the SEC regarding the backdating issues surrounding Apple.
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.
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 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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