SEC Continues Probe Into Apple Statements on CEO Jobs' Health

Authored by Mark Hefflinger on July 8, 2009 - 9:40am.

Washington - The SEC is continuing to investigate Apple's (NASD: AAPL) disclosures about CEO Steve Jobs' medical condition, Bloomberg News reported, some seven months after the probe is thought to have begun.

The SEC is reportedly interested in "how his condition went from 'relatively simple' to 'more complex' in nine days," a source told Bloomberg, referencing statements from Apple dated on Jan. 5 and Jan. 14.

Jobs announced on Jan. 5 that a "hormone imbalance" with a "relatively simple" treatment was the cause of his increasingly gaunt appearance, before saying on Jan. 14 that the health issue was "more complex than I originally thought," and said he would take a six-month medical leave of absence.

During the time away, Jobs underwent a successful liver transplant, which was confirmed by a Tennessee hospital, before returning to work at Apple on a limited basis last week.

"The issue is not going to be whether they needed to disclose the medical records, Duke University securities law professor James Cox told Bloomberg.

"It's going to be whether they monitored the disclosures about his health, in relation to investor expectations that Apple would continue to be led by Jobs."

Related Links:
http://snipurl.com/mdxvn (Bloomberg)

http://snipurl.com/mdxx4 (DMW previous coverage)