SEC Digs Deeper Into Apple Disclosures About Jobs' Health: Report
By
Rick Whiting,
CRN
July 08, 2009
The U.S. Securities and Exchange Commission's investigation into Apple's disclosures about the health of CEO Steve Jobs is continuing with the review focusing on what Apple's board members knew about Jobs' condition in January before he took a medical leave, according to a Bloomberg report.
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The SEC has been investigating whether Apple and/or Jobs made adequate disclosures about the CEO's medical condition. Given Jobs' pivotal role at Apple, his health could materially affect the company's stock price and therefore impact investors.
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The critical question being examined by the SEC is how much Apple's board members knew about Jobs' condition between Jan. 5 when he disclosed that he had a hormone imbalance and Jan. 14 when he announced that he was taking a five-and-a-half month medical leave, the Bloomberg story said, quoting "a person familiar with the matter."
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Last month it was revealed that Jobs had undergone a liver transplant at a Memphis, Tenn., hospital. He returned to work last week.
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The Bloomberg report, quoting another unnamed source, said that Jobs' doctors briefed Apple directors Art Levinson and Bill Campbell on his medical condition at the time of the January announcements.