Wall Street Journal: Fred Anderson Settles With SEC

Apple’s ex-CFO has cut a deal with the SEC in Apple’s backdated options scandal, the Wall Street Journal reports, citing anonymous sources. Anderson will pay a fine of $150,000 and repay about $3.5 million worth of options. The deal does not include an admission of wrongdoing, the WSJ says. The SEC reportedly intends to pursue […]

FredandersonApple's ex-CFO has cut a deal with the SEC in Apple's backdated options scandal, the Wall Street Journal reports, citing anonymous sources. Anderson will pay a fine of $150,000 and repay about $3.5 million worth of options. The deal does not include an admission of wrongdoing, the WSJ says.

The SEC reportedly intends to pursue civil charges against Nancy Heinen, Apple's ex-general counsel, who will contest the case, according to the WSJ.

The AP reports:

Cris Arguedas, a lawyer for former Apple counsel Nancy Heinen, said Monday that the Securities and Exchange Commission has informed attorneys in the case that it plans to file a lawsuit against Heinen alleging fraud in connection with two options grants. One involved a grant to Apple Chief Executive Steve Jobs on Oct. 19, 2001, for 7.5 million shares and another involved a grant made to top executives, including Heinen herself, on Jan. 17, 2001.

"We do expect them to file against our client and we will be defending those charges because they are a misunderstanding of the activities of Apple," Arguedas said.