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

(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.”

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)

In this Sept. 9, 2008 file photo, Apple Inc. CEO Steve Jobs waves goodbye after a product announcement in San Francisco. (AP Photo/Paul Sakuma, file)

In this Oct. 14, 2008 file photo, Apple CEO Steve Jobs gestures during a product announcement at Apple headquarters in Cupertino, Calif. (AP Photo/Paul Sakuma, file)

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Non-public inquiry doesn't necessarily indicate wrongdoing

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Farhad Manjoo thinks Apple still has nowhere to go but up

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FLA to audit working conditions at Apple suppliers

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New tablet to come in 4G LTE version

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But regulators in EU, United States will monitor for antitrust

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Like BMW and Boeing, Apple can afford to have US manufacturing jobs

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Non-public inquiry doesn't necessarily indicate wrongdoing

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[ By Views ]

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More Newser Stories

You Should Buy Apple Stock

Farhad Manjoo thinks Apple still has nowhere to go but up

Apple Asks Outside Group to Inspect Plants

FLA to audit working conditions at Apple suppliers

iPad 3 to Be Unveiled March 7

New tablet to come in 4G LTE version

Google Gets Europe's OK to Buy Motorola

But regulators in EU, United States will monitor for antitrust

Apple Can Bring Those Jobs Back

Like BMW and Boeing, Apple can afford to have US manufacturing jobs

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