Steve Jobs Subpoenaed in Apple Options Case
Apple CEO Steve Jobs has been subpoenaed by the Securities and Exchange Commission to testify in a options case against his former general counsel Nancy Heinen, sources say.
The subpoena was issued last month, and does not target him, according to Wall Street Journal sources. Instead, it focuses around Heinen's own actions in falsifying company documents, as well as tampering with Jobs' and her own options.
Heinen has denied any wrongdoing, and Apple has refused to comment publicly on the matter. A total of three people are being asked to testify, including Heinen, Jobs, and an unknown third individual.
The courts have not set a trial date, although Jobs' testimony is expected to be taken in November. It is likely the case will not go to trial until late 2008 or early 2009, according to the proposed dates from both sides.
So far, only one Apple official has settled any allegations of wrongdoing. Former CFO Fred Anderson settled with the SEC in April for $150,000 in fines, and agreeing to forfeit about $3.49 million in profits obtained from his own stock options.
As part of his settlement, Anderson was able to settle without making any admission of guilt.