SEC Looking Into Apple's Health Disclosures on Jobs

Non-public inquiry doesn't necessarily indicate wrongdoing
By Kevin Spak,  Newser Staff
Posted Jan 21, 2009 9:55 AM CST
Apple's chief operating officer, Tim Cook, left, talks with CEO Steve Jobs, center, and Vice President Phil Schiller, right, during a meeting at Apple headquarter in Cupertino, Calif., Oct. 14, 2008.   (AP Photo/Paul Sakuma)
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(Newser) – The SEC is taking a long hard look at Apple’s disclosures about Steve Jobs’ health, a source tells Bloomberg. The inquiry isn’t supposed to be public knowledge, and doesn’t indicate that the SEC has seen evidence of wrongdoing. But the agency wants to be sure that Apple didn’t mislead investors about its CEO’s health, which has been a hot topic on Wall Street since June.

Investors began pressing for information when Jobs appeared conspicuously thin at a June event. Last month he said it was an easily treatable nutritional problem; then, 9 days later, he said the problem had become “more complex” and announced a 5-month leave. Bloomberg reported that Jobs is considering a liver transplant. “The good news flipped by the bad news makes one wonder what Apple knew,” says one law professor. “It’s not surprising for the SEC to come in and look afterward.”