SEC Settles with Anderson, Pursuing Heinen

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

  1. MacRumors macrumors bot


    Apr 12, 2001

    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. roland.g macrumors 603


    Apr 11, 2005
    One mile up and soaring
    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. dernhelm macrumors 68000


    May 20, 2002
    middle earth
    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.


  4. HiRez macrumors 603


    Jan 6, 2004
    Western US
    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. twoodcc macrumors P6


    Feb 3, 2005
    Right side of wrong
    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. Maccus Aurelius macrumors 6502a

    Maccus Aurelius

    Sep 19, 2006
    Brooklyn, NY
    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. akadmon macrumors 68010

    Aug 30, 2006
    New England
    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. BigPrince macrumors 68020

    Dec 27, 2006
    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. Clive At Five macrumors 65816

    Clive At Five

    May 26, 2004
    St. Paul, MN
    Like I said. A slap on the wrist.

    3.5 million is like nothing to them.

    Makes me sick.

  10. Maccus Aurelius macrumors 6502a

    Maccus Aurelius

    Sep 19, 2006
    Brooklyn, NY
    Whatever happened to the good old days when they put people in stocks and kids threw manure and tomatoes?
  11. BigPrince macrumors 68020

    Dec 27, 2006
    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. studiomusic macrumors regular


    Oct 1, 2004
    Round the world
    He pays Apple the 3.5mil, and the SEC the 150grand fine.
  13. electronboy macrumors 6502

    Sep 27, 2005
    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. Irish1978 macrumors member


    Nov 23, 2006
    Portland, Oregon

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


    Nov 1, 2006
    East Lansing, Michigan
    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. BigPrince macrumors 68020

    Dec 27, 2006
    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. Amdahl macrumors 65816

    Jul 28, 2004
    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. EagerDragon macrumors 68020


    Jun 27, 2006
    MA, USA
    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. Gasu E. macrumors 68040

    Gasu E.

    Mar 20, 2004
    Not far from Boston, MA.
  20. Digital Skunk macrumors 604

    Digital Skunk

    Dec 23, 2006
    In my imagination
    Come ON!


    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. Digital Skunk macrumors 604

    Digital Skunk

    Dec 23, 2006
    In my imagination
    We are looking for something a tad bit below $4000 - $4600. Maybe around $1500 give or take a dollar or so. :rolleyes:
  22. mac_airport macrumors newbie

    Jan 17, 2002
    san mateo, california
    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. akadmon macrumors 68010

    Aug 30, 2006
    New England
    Man, this is better than a Brazilian soap opera! :D
  24. MacGuffin macrumors regular

    Nov 13, 2006
    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. Raidersmojo macrumors regular

    Jul 3, 2005
    Burton michigan
    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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