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Posted Sep 22, 2007 03:20 by Charles D. Listed in: News, Steve Jobs Tags: California, Steve Jobs, SEC, Fred Anderson
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Steve Jobs is set to testify for the backdated stock options case filed last April - Image 1In a lawsuit filed last April, Apple's head honcho - Steve Jobs - has been issued a subpoena by the U.S. Securities and Exchange Commission to testify against the backdating option grants case of former Apple general counsel, Nancy Heinen.

Jobs is just one of several employees of the company who will testify during the trial. Heinen asked for at least 45 despositions for the case, however, the SEC is limiting the number to 12 per party.

An investigation last April found that Heinen and former Apple Chief Financial Officer, Fred Anderson, backdated more than US$ 20 million in stock options in 2001 for jobs, themselves and other executives. Anderson agreed to pay US$ 3.5 million in fines and disgorgement of profit to avoid any charges pressed by the SEC.

Cupertino, the California-based Apple stated in an internal review that two questionable options were awarded to Jobs, but found no other anomalies in the current management, including Jobs.

[Via Reuters] Permalink  |   Email this  |   Linking Blogs   |   Digg It!

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