Feeds

Former Apple lawyer to pay $2.2m for cooking books

Settles Jobs backdating case

Internet Security Threat Report 2014

The former top lawyer at Apple has agreed to pay $2.2m to settle federal charges she illegally cooked the company's financial books to conceal backdated stock options issued to CEO Steve Jobs and other top executives.

Nancy Heinen, Apple's former general counsel, also agreed to be barred for five years from serving as an officer or director of any public company. The agreement with the Securities and Exchange commission settles a case that was scheduled to go to trial next year, at which Jobs was expected to be called as a witness. Heinen neither admitted nor denied wrongdoing.

In April, 2007, SEC attorneys alleged Heinen caused Apple to fraudulently backdate two options grants to senior executives - including herself. By misrepresenting the true dates that the grants were awarded, the company underreported $40m in expenses.

Apple has admitted that Jobs knew of the backdating, but has said he didn't personally benefit from them and didn't know the practice was illegal. He has never been charged in the matter. Civil lawsuits still allege he is culpable. ®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
4chan outraged by Emma Watson nudie photo leak SCAM
In the immortal words of Shaggy, it wasn't me us ... amirite?
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.