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Reuters: ‘Apple ex-CFO settles with SEC’

A story in the Wall Street Journal reports that Fred Anderson, Apple’s former chief financial officer, has settled with the U.S. Securities and Exchange Commission on his alleged participation in the backdating of stock options, notes Reuters. “Anderson agreed to a fine of about US$150,000 and to repay option gains of about $3.5 million under the settlement but won’t admit to any wrongdoing, the Journal reported, citing unnamed sources.” A civil lawsuit against Apple’s former general counsel Nancy Heinen is also expected from the SEC. “Heinen, who will be accused of manipulating one of her own option awards as well as a grant to Steve Jobs, Apple’s chief executive, plans to contest the charges, the Journal reported. The SEC in San Francisco declined to comment. The company and Anderson’s attorney could not be reached for comment.”

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