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June 1, 2007

legal

Who took the options from the options jar? Not I, says Heinen

Posted Jun. 1, ’07, 8:19 AM PT by Dan Moren
Category | Legal

Nancy HeinenLost amidst the surfeit of Apple news we’ve had in the past few days was a small note that former Apple General Counsel, Nancy Heinen, had filed documents in a San Jose, California court denying that she prepared or directed anyone else to prepare false paperwork for Apple’s board of directors.

Heinen was one of two former members of Apple’s executive team to be sued by the SEC for the backdating; the other, former CFO Fred Anderson, struck a deal with the SEC to repay $3.5 million as well as a $150,000 fine. He also took the opportunity to point the finger at Steve Jobs, saying that the Apple CEO had made the decision.

Meanwhile, Heinen has decided to fight the charges in court. The investigation is focusing on two grants: one dated October 19, 2001 to Steve Jobs, and one dated January 17, 2001, granted to the executive team, Heinen included.

With all these denials and counter-denials going around, it’s good to see that responsibility is still the watchword of modern corporate America. Let’s call it an exercise in playground ethics.


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