Apple Inc. SEC Enforcement Actions
SEC litigation releases, administrative proceedings and accounting and auditing enforcement releases naming the company or its insiders, newest first. Sanctions are as the SEC stated them.
- 2024-07-08: Kind Action against an insider; Release LR-26045; Respondents Gene Daniel Levoff (former Apple senior director of corporate law / corporate secretary); Summary Court granted SEC summary judgment on insider trading claims against Apple's former head of corporate law; injunction and officer-and-director bar added to the penalty..
- 2024-05-08: Kind Action against an insider; Release 34-100082; Respondents Gene Daniel Levoff, Esq. (former Apple senior director of corporate law); Summary Commission suspended Levoff from appearing or practicing before it after his felony securities-fraud conviction for trading Apple stock on earnings information..
- 2019-02-13: Kind Action against an insider; Release LR-24399; PR 2019-10; Respondents Gene Daniel Levoff (former Apple senior director of corporate law / corporate secretary); Summary SEC sued Apple's former head of corporate law for trading Apple securities ahead of three earnings releases in 2015-16, using data from the disclosure committee..
- 2008-09-16: Kind Action against an insider; Release 34-58553; AAER-2880; Respondents Nancy R. Heinen (former Apple SVP, General Counsel and Corporate Secretary); Summary Settled Rule 102(e) order suspending Apple's former general counsel from practice before the Commission after the options-backdating injunction..
| Date | Kind | Release | Respondents | Summary | Sanctions |
|---|---|---|---|---|---|
| 2024-07-08 | Action against an insider | LR-26045 | Gene Daniel Levoff (former Apple senior director of corporate law / corporate secretary) | Court granted SEC summary judgment on insider trading claims against Apple's former head of corporate law; injunction and officer-and-director bar added to the penalty. | civil penalty of $1,147,440; disgorgement and prejudgment interest deemed satisfied by criminal forfeiture |
| 2024-05-08 | Action against an insider | 34-100082 | Gene Daniel Levoff, Esq. (former Apple senior director of corporate law) | Commission suspended Levoff from appearing or practicing before it after his felony securities-fraud conviction for trading Apple stock on earnings information. | suspension from practice before the Commission (criminal case: $30,000 fine, $604,000 forfeiture) |
| 2019-02-13 | Action against an insider | LR-24399; PR 2019-10 | Gene Daniel Levoff (former Apple senior director of corporate law / corporate secretary) | SEC sued Apple's former head of corporate law for trading Apple securities ahead of three earnings releases in 2015-16, using data from the disclosure committee. | |
| 2008-09-16 | Action against an insider | 34-58553; AAER-2880 | Nancy R. Heinen (former Apple SVP, General Counsel and Corporate Secretary) | Settled Rule 102(e) order suspending Apple's former general counsel from practice before the Commission after the options-backdating injunction. | suspended from appearing or practicing before the Commission as an attorney for three years |
| 2008-08-14 | Action against an insider | LR-20683 | Nancy R. Heinen (former Apple General Counsel) | Former Apple general counsel settled the options-backdating case over the 2001 Executive Team and Steve Jobs grants; five-year officer/director bar. | disgorgement of $1,575,000 plus $400,219.78 interest; civil penalty of $200,000 ($2.2 million total) |
| 2007-04-24 | Action against an insider | LR-20086; PR 2007-70 | Nancy R. Heinen (former Apple General Counsel); Fred D. Anderson (former Apple CFO) | SEC sued Apple's former general counsel over backdated 2001 option grants that understated expenses by nearly $40 million; ex-CFO Anderson settled. | Anderson: disgorgement $2,953,125, prejudgment interest $528,107.86, civil penalty $150,000 (about $3.5 million) |