SEC Settles with Anderson, Pursuing Heinen

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Apr 24, 2007.

  1. macrumors bot

    MacRumors

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    #1
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    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.
     
  2. macrumors 603

    roland.g

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    #2
    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. ;)
     
  3. macrumors 68000

    dernhelm

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    middle earth
    #3
    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
     
  4. macrumors 601

    HiRez

    Joined:
    Jan 6, 2004
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    Western US
    #4
    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.
     
  5. macrumors P6

    twoodcc

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    #5
    well i guess this is partly good news, and partly bad.

    at least Anderson settled and hopefully it's over with for him.

    but we'll be hearing more about Heinen though
     
  6. macrumors 6502a

    Maccus Aurelius

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    #6
    I wish I was rich. You poor stockholders would be my personal playthings, and then I can bribe the gub'mint. I kid, you guys are great.
     
  7. macrumors 68000

    Joined:
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    Location:
    New England
    #7
    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?
     
  8. macrumors 68020

    Joined:
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    #8
    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.
     
  9. macrumors 65816

    Clive At Five

    Joined:
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    St. Paul, MN
    #9
    Like I said. A slap on the wrist.

    3.5 million is like nothing to them.

    Makes me sick.

    -Clive
     
  10. macrumors 6502a

    Maccus Aurelius

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    #10
    Whatever happened to the good old days when they put people in stocks and kids threw manure and tomatoes?
     
  11. macrumors 68020

    Joined:
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    #11
    It could be that much for one's legal TEAM. This also avoids him going to jail and he never admitted any wrong doing for the mere price of 3.5 mils.

    err ****ing edits
     
  12. macrumors regular

    studiomusic

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    Round the world
    #12
    He pays Apple the 3.5mil, and the SEC the 150grand fine.
     
  13. macrumors 6502

    Joined:
    Sep 27, 2005
    #13
    Maybe we could spell Nancy's last name the same throughout the article. If we are going to report bad news about her, we could at least get her last name right.
     
  14. macrumors member

    Irish1978

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    #14

    I agree 100%. America, the land of hypocrites!
     
  15. macrumors 6502

    TheBobcat

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    East Lansing, Michigan
    #15
    You can settle with the government because if you admit you're guilty and spare them the cost of the judges, court time, laywers, etc, they'll agree to give you a less stiff penalty.

    I mean, these are white collar crimes, nothing that bad ever happens to these people. Might as well save me the tax dollars, she didn't pull a Ken Lay or anything.
     
  16. macrumors 68020

    Joined:
    Dec 27, 2006
    #16
    people stop kidding yourseleves.


    Its a bit late to introuduce new upgrades now with SR right around the corner...

    beside we recently got introduced to an 8 core mac pro to wet your mouth.
     
  17. macrumors 65816

    Joined:
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    #17
    I think what you meant to say is that they can't find enough evidence to make the charges worth trying. Nothing has been found that 'clears' Jobs of anything. He's the ***** CEO, and he got the money. His excuse was that he didn't 'appreciate' the 'accounting implications.' So, he knew what was going on, he just didn't realize it had 'implications.'

    "Yes, your honor, I knew I was putting money in my pocket, I just didn't realize it belonged to anybody!"

    Mind you, this is the man who walks into meetings with Disney, record companies, hardware companies, and f's them in the a**. And has been doing it for 30 years! Didn't understand the 'implications??!?' Yeah, right!
     
  18. macrumors 68020

    EagerDragon

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    MA, USA
    #18
    IRS is looking for you after that.

    Looks like some of these folks wont be able to go out to lunch for a week or so. Some of these execs make way too much money.

    I bet shockholders see little or none of the money.
     
  19. macrumors 68040

    Gasu E.

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    Not far from Boston, MA.
    #19
     
  20. macrumors 604

    Digital Skunk

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    #20
    Come ON!

    Yawn!!!

    Great reporting really it is. I am glad that I can get news on Apple's other related happenings. But....

    Where is my 12" MacBook Pro/13" MacBook with no polycarbonate case and backlit keyboard and dedicated graphics memory? (>_<) :mad:

    Where is my iPod HD with all functions and body construction like iPhone without the phone part and flash based HDD at 32 - 64GB? (>_<) :mad:

    Where is my 24" iMac with Quad Core chip and 1TB Hitachi HDD? (>_<) :mad:

    Ouch... my head hurts from all that squinting. :D
     
  21. macrumors 604

    Digital Skunk

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    #21
    We are looking for something a tad bit below $4000 - $4600. Maybe around $1500 give or take a dollar or so. :rolleyes:
     
  22. macrumors newbie

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    Location:
    san mateo, california
    #22
    Wall St. Journal

    The Wall Street Journal is now posting the following text under the banner 'Breaking News' on the site's home page:

    "Former Apple CFO Fred Anderson issues statement blaming Steve Jobs for backdated options grant. Full article coming soon."
     
  23. macrumors 68000

    Joined:
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    Location:
    New England
    #23
    Man, this is better than a Brazilian soap opera! :D
     
  24. macrumors regular

    Joined:
    Nov 13, 2006
    #24
    A millionaire being allowed to give back his piles of ill-got loot with a slap on the wrist and no admission of guilt?

    Whew! We were all worried there for a moment that Fred might get mistreated. Thank god that even the nobles get properly handled.
     
  25. macrumors regular

    Joined:
    Jul 3, 2005
    Location:
    Burton michigan
    #25
    good thing jobs isn't having anything brought against him, positive news.

    and why is everyone getting upset over him having to repay 3.5 mil and what not and getting away with it? lifes not fair deal with it.

    if you had millions of dollars and they went "well...if you do this this and this you can avoid jail time" you'd do it in a heart beat too

    guy worked hard to get where he is at, I'm fine with him or anyone else being able to pay off whoever to get out of trouble. its just the way things are, everyone would do it if they had that kind of cash/power
     

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