Ex-Apple Finance Chief to Settle SEC Options Probe |
| Bloomberg - Apr 24, 2007 |
Ex-Apple Inc. finance chief Fred Anderson will pay $3.5 million to settle U.S. claims over backdated stock options approved by Chief Executive Officer Steven Jobs, a person familiar with the case said, making Anderson the highest profile finance head ensnared in the government's options probe.
Anderson, 62, Apple's chief financial officer from 1996 to 2004, will also pay a $150,000 fine to settle the Securities and Exchange Commission allegations that he filed false financial reports and had inadequate accounting controls at the Cupertino, California-based company, the person said. The grants, to Jobs' executive team, were approved by the CEO and Apple's board in February 2001, and backdated to Jan. 17, boosting their value, the person said.
Read Full Article from Bloomberg
- Posted: 2007-04-24 10:04:10
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