Skip to main content

SEC, Apple Ex-CFO Settle

The ex-CFO will pay a fine of about $150,000 and repay option gains of roughly $3.5 million, a report says.
  • Author:
  • Publish date:

The former chief financial officer of


(AAPL) - Get Apple Inc. Report

, late Monday has settled with the

Securities and Exchange Commission

regarding his alleged role in the company's stock options backdating, according to a report.


Wall Street Journal

TheStreet Recommends

said that Fred Anderson settled with the SEC, agreeing to pay a fine of about $150,000 and to repay option gains of roughly $3.5 million.

Anderson will not admit to any wrongdoing, and won't be "barred from serving as a corporate officer or board member of public companies, "

the Journal

said on its Web site, citing unnamed sources.

The SEC is expected to pursue a civil lawsuit against former general counsel Nancy Heinen, the report said.

Heinen, who unnamed sources say will be accused of manipulating one of her own option awards and a grant to CEO Steve Jobs, is likely to contest the charges,

the Journal


Shares of Cupertino, Calif.-based Apple closed Monday up 2.8% to $93.51.