Ex-Apple General Councel Nancy Heinen Settles Backdating Charge; $2.2 Million Fine

This story was written by Joseph Weisenthal.
Though no official charges have ever been made against Apple (NSDQ: AAPL) CEO Steve Jobs pertaining to backdating, the company's former general councel Nancy Heinen is paying a steep price over alleged misdeeds. The SEC announced today that Heinen, who left Apple in May 2006, will pay a $2.2 million fine to settle the charges. Reuters notes that Heinen was not forced to admit wrongdoing, though, she agreed not to serve as a public company officer or director for the next five years. The SEC's press release from last year announcing the charges is here. The agency argued that the alleged backdating help the company reduce reported expenses by $40 million. 

By Joseph Weisenthal
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App