Feeds

SEC to probe Apple on Steve Jobs' health issues?

US regulator scrutinising disclosure

Combat fraud and increase customer satisfaction

Apple reportedly faces a review by US regulators to ensure investors weren’t misled by the firm’s disclosure regarding boss Steve Jobs’ health problems.

According to Bloomberg, the Securities and Exchange Commission isn’t investigating evidence of any wrongdoing. Instead it will look into how the information surrounding Jobs’ announcement about taking medical leave from the company was handled.

Jobs, who revealed in August 2004 he had undergone surgery to remove a tumour from his pancreas, said last week that he would take a leave of absence from his position as Apple CEO so he could focus on health issues that were "more complex" than he originally thought.

The company has had a difficult start to 2009. Jobs issued a statement at the start of January in which he said the Macworld trade show would go ahead without him while he received treatment for a “straightforward” hormone imbalance.

A week later Jobs said the diagnosis had changed and that he had no choice but to step down from Apple for six months to focus on his health.

But investors, fanboys and the press are still pushing for more answers from the man who is viewed by many as Apple’s saviour.

Bloomberg reports that the SEC could only mount a case against Apple if it could show the Cupertino-based firm tried to benefit by withholding information about an “unambiguous diagnosis”, according to former federal prosecutor and SEC lawyer, Peter Henning.

“It would be difficult, and certainly a new area of the law,” he said. “You would have to pin down exactly what they knew, and with a health issue – unlike a merger or a decline in revenue – it’s not subject to definitive answers.”

Apple, which could not be reached for comment, is due to announce its first quarter fiscal results for the three months ended 31 December later today. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.