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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.

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Posted May 11, 2007 01:32 by Karl B. Listed in: News Tags: Steve Jobs , iPhone , Greenpeace , Fred Anderson
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During Apple's recent shareholder meeting, Apple CEO Steve Jobs addressed a few issues that were thrown his way. Read on for a few snippets of Jobs' comebacks.

Apple CEO Steve Jobs - Image 1On Leopard's delay. "Leopard will be worth the wait."

On the iPhone. "We're beginners and we have a lot to learn," said Jobs. "The market is large and the opportunities are great. A few of us have been using the iPhone a lot and if you wanted it back, you would have to pry it from our dead hands."

Jobs also said that the company is still deciding whether or not to let third-party developers create software for the iPhone.

On the stock options scandal. "I actually got my options at a higher price, but I didnĀ?t ask the company to reimburse me." As for former Apple CFO Fred Anderson, Jobs said that he had "worked with Fred for many years and I think he's an awfully good guy, but I thought his comments were a little wrong."

On Greenpeace. Jobs also took some time to throw around some criticism of his own. Two Greenpeace representatives were present at the meeting, and although they congratulated Jobs and Apple for their commitment to greener products, Jobs had the following words for the organization:

I think your organization particularly depends too much on principle and not enough on fact. You guys rate people based on what people say their plans are in the distant future, not what they are doing today. I think you put way too much weight on these glorified principles and way too little weight on science and engineering.

It would be very helpful if your organization hired a few more engineers and actually entered into dialog with companies to find out what they are really doing and not just listen to all the flowery language when in reality most of them arenĀ?t doing anything.

ThatĀ?s my opinion.



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Posted Apr 25, 2007 04:55 by Glen D. Listed in: News Tags: Steve Jobs , SEC , Fred Anderson
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Apple - Image 1Former Apple chief financial officer Fred Anderson has settled a complaint raised against him by the Securities and Exchange Commission regarding some dubious corporate activities during his eight-year stint at Apple Computers.

Through a press release issued by his attorney, Anderson clarified that there was no fraud involved in the complaint and he is allowed by the SEC to continue his activities in business under the settlement terms. The statement pointed at Anderson's good reputation but made no admission or denial regarding the issue.

The statement also explained that such problems would not have surfaced if not for the influence that Apple founder Steve Jobs exerted over the former CFO. Anderson claims that Jobs assured him that all would be fine despite warnings that certain policies may be outside the bounds of legality.

The amount involved in the settlement remains undisclosed. Anderson has resigned from his duties at the computer company and is now serving other corporate interests.

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