Report: Jobs was subpoenaed in backdating lawsuit

Apple CEO Steve Jobs was subpoenaed by the Securities and Exchange Commission to give a deposition in the company's option backdating lawsuit. The news, reported by Bloomberg and based on "two people familiar with the matter," indicates that the SEC wants testimony from Jobs in its lawsuit against Nancy Heinen.

Apple CEO Steve Jobs was subpoenaed by the Securities and Exchange Commission to give a deposition in the company's option backdating lawsuit.

The news, reported by Bloomberg and based on "two people familiar with the matter," indicates that the SEC wants testimony from Jobs in its lawsuit against Nancy Heinen. Heinen was sued April 24 for backdating option grants to Jobs and other executives.

Bloomberg reports:

The subpoena isn't part of an SEC investigation, one of the people said. It seeks Jobs's testimony in the SEC's lawsuit against Nancy Heinen, who was sued April 24 for allegedly backdating stock-option grants to Jobs and members of his executive team, said the people, who requested anonymity because deposition subpoenas aren't made public.

Apple declined to comment. Jobs has steered clear of backdating issue and the SEC doesn't intend to sue Apple's leader. 

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All