Ex-Apple GC Settles Backdating Case For $2M

Law360, New York (August 14, 2008, 12:00 AM EDT) -- Apple Inc.'s former General Counsel Nancy Heinen has agreed to pay almost $2.2 million to settle U.S. Securities and Exchange Commission charges that she was responsible for options backdating in 2001 that resulted in the company underreporting its expenses by nearly $40 million.

Under the terms of the settlement agreement, which was announced Thursday and will become final when the U.S. District Court for the Northern District of California signs off on it, Heinen will pay $1,575,000 as disgorgement of the profits she received from the...
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