The S.E.C. charged Apple’s former General Counsel Nancy Heinen and former CFO Fred Anderson with securities fraud, accusing Heinen of knowingly concealing backdated stock options granted to company executives, and accusing Anderson of failing “to take steps to ensure that Apple’s financial statements were correct.”
Heinen and Anderson are also accused of “personally benefiting from the backdating when each received a portion of 4.8 million options that Apple granted to six members of its executive team. The S.E.C. alleged that 7.5 million options approved for Apple CEO Steve Jobs were improperly backdated
Anderson settled the S.E.C.'s accusations, without admitting or denying any of the allegations in the complaint. As part of the settlement, Anderson will disgorge $2,953,125 in ill-gotten gains, plus prejudgment interest of $528,107.86, and pay a civil monetary penalty of $150,000.