Apple CEO to Answer for Backdated Stock Options The U.S. Securities and Exchange Commission has reportedly ordered Apple Inc. CEO Steve Jobs to answer questions in a case against the company's former general counsel. Nancy Heinen is accused of backdating more than $20 million in stock options for Steve Jobs and other executives.
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Apple CEO to Answer for Backdated Stock Options

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Apple CEO to Answer for Backdated Stock Options

Apple CEO to Answer for Backdated Stock Options

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STEVE INSKEEP, host:

NPR's business news starts with a subpoena for Steve Jobs.

The Securities and Exchange Commission has ordered Apple's CEO to answer some questions. That's according to the Associated Press and other media. The subpoena involves a case against the company's former general counsel. Nancy Heinen is accused of backdating more than $20 million in stock options for Steve Jobs and other executives. That refers to pushing back the stock date to a time when the price was lower to increase the cash value.

Apple has acknowledged that Jobs was involved in some backdating, but the company claims he did not do anything wrong because he did not quote, "appreciate the accounting implications."

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