Ousted and indicted former Apple General Counsel, Nancy Heinen is readying her defense against stock option backdating charges from the SEC. Apple dismissed Heinen when the SEC came calling on the company regarding questionable grants practices.

While Apple patriarch, Steve Jobs seemed to be at least momentarily in the cross-hairs (and many predicted his sort, swift downfall), it was Heinen along with a few other high level company employees who have ultimately faced repercussions.

In her defense Heinen is seeking financial records from fellow former Apple in-house attorney, Wendy Howell. Howell, also canned in the options mess, was the individual who actually wrote the questionable options grant to Steve Jobs. Howell has indicated she falsified the options grant under pressure from Heinen.

Heinen wants access to the documents to show that Howell was under considerable financial distress at the time, hoping to discredit her testimony. Howell has thusfar resisted the overtures of the Heinen defense team citing privacy concerns.

Heinen recently filed suit against her former co-worker in an effort to produce the documents. MacWorld UK has the details on the case of Heinen v. Howell.

-- MDT

Labels: Apple, backdating, Nancy Heinen, SEC, stock options

Looks like Nacy Heinen and Fred Anderson - Apple's former general counsel and CFO, respectively - are coming out swinging. So far Heinen and Anderson are the only two Apple execs to take a public fall for the company's stock option backdating, but both may still have a great deal to say about the role of Apple CEO Steve Jobs.

Official charges against Heinen are expected from the SEC as soon as this week. She has vowed to fight. Anderson, on the other hand, has cut a deal with the SEC - paying $3.5 million to settle backdating-related charges against him.

More on all the schenanigans from Palo Alto, via the FT - here and here.

-- MDT

Labels: Apple, backdating, corporate scandal, Fred Anderson, Nancy Heinen, SEC, stock options

There are certainly plenty of business medial pundits out there that have weighed in on the stock options backdating with their contention that imbroglio is much ado about nothing. And yet 160 some odd companies are either currently under or facing potential federal investigation and executives have been dropping right and left.

Heck, one guy even fled the country and initiated an international man-hunt.

One of the most prominent options inquiries has been that of Apple Computer (excuse me...Apple, Inc.) and CEO, Steve Jobs. It looked as if Jobs might skate initially because he essentially grew no benefit from the options that were awarded him. Apple's own internal investigation cried no harm no foul and it seemed that the story might just fade away into the din and roar preceding the much anticipated debut of Apple's iPhone.

But the story didn't quite die there. Just when the Apple options issue seemed to be dying down, it was brought roaring back to life by the admission that the minutes of the meeting where Jobs' stock options were granted had been falsified - that no board approval of the grant had taken place. Apple must have known that there was more to in because the quietly fired the execs involved, including long time general counsel, Nancy Heinen and Apple CFO Fred Anderson.

This prompted some to call for Steve Jobs resignation, although no one within Apple itself, notably. And that kind of standing by your man is what Peter Burrows over at BusinessWeek would like us to think of as The Steve Jobs Effect.

And he thinks its catching....

Labels: Apple, backdating, Comverse, Fred Anderson, Kobi Alexander, Nancy Heinen, Steve Jobs, stock options