Steve Jobs has taken heat in the past for Apple’s backdating scandal, but now former Apple lawyer Nancy Heinen is sharing that spotlight. Heinen paid on allegations that she concealed backdated stock options. The options allegedly went to Steve Jobs and other top bosses at Apple. The company has said Jobs knew of the backdating, but claims he didn’t benefit financially from it. Heinen agreed to pay $2.2 million to settle the case with the SEC, and she’ll also be barred from becoming an officer or director of a public company for the next five years.
It would seem that this would be punishment enough if Heinen’s only crime was concealing the options. According to the Reuters, backdating isn’t a crime.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
