It looks like Apple is finally in the clear over the infamous backdating of employee stock options, although the part CEO Steve Jobs played in the matter remains a mystery. The SEC ended its
investigation of the company by filing charges against two former executives: general counsel Nancy Heinen, and Fred Anderson, CFO until 2004.
The latter reached a settlement with the
SEC without admitting or denying any wrongdoing, although he couldn't resist firing a parting shot at Jobs. In a statement yesterday, Anderson's lawyer said his client had "cautioned" Jobs about the
accounting implications of dating options grants, adding that board approval would need to be confirmed "in a legally satisfactory method."
In its 20-page complaint, the SEC said Jobs
had been involved in two incidents involving two options grants in 2001, one in which he personally benefited, and another approved by him. In both, the report says documents were either created or
altered to establish approvals on dates when nothing had happened. However, the report is unable to confirm that Jobs himself had any knowledge or involvement in the fabrications. Rather, it paints a
picture of Heinen acting on her own. Does this mean the SEC is going after the deputies before mounting its case against the sheriff? The government agency wouldn't say.
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