SEC, Apple Ex-CFO Settle - TheStreet

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.
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The former chief financial officer of

Apple

(AAPL) - Get 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.

The

Wall Street Journal

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

reported.

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