Report: SEC May Investigate Apple

By Marcus Yam
published

The SEC might be taking a look into the Steve Jobs Health Saga to see if it mislead investors in any way.

We continue to stand firm on our policy not to report on the private life of Steve Jobs any further, but it is our responsibility to report on relevant news to relating to Apple and the business that surrounds it. With that in mind, the Securities and Exchange Commission could be now looking into the teeter-totter releases on Steve Jobs’ health and how it may have affected Wall Street.

Amidst questions about his rapidly thinning figure, Steve Jobs revealed a perfectly healthy blood pressure during last October’s MacBook event, but that didn’t satisfy the bloggers. Then on January 5, Steve posted a letter on the Apple website stating that he had a hormonal imbalance that was affecting his health, but it was a minor problem that would be easily remedied. Just nine days later on January 14, a new letter from the Apple CEO revealed that his health issues were far more serious than anticipated and that he would have to take a temporary leave from the company.

Companies are not required to report to the SEC (or anyone, for that matter) on the health of its employees, as those are private matters. But the affect of rumors on Apple’s stock price could be enough to for the SEC to poke into matters to see if the company somehow benefitted from the obvious jumps and dips.

The SEC has looked into Apple matters before in the stock option backdating scandal from 2007 to 2008. But this instance, really being looked at by the SEC, could set some sort of questionable precedent. At least the focus this time is on Apple the company and not Steve Jobs the man.

Marcus Yam
Marcus Yam
Marcus Yam served as Tom's Hardware News Director during 2008-2014. He entered tech media in the late 90s and fondly remembers the days when an overclocked Celeron 300A and Voodoo2 SLI comprised a gaming rig with the ultimate street cred.
4 Comments Comment from the forums
  • ckthecerealkiller
    I had always assumed that there was some publicity to be had out of all of this commotion. Don't get me wrong I don't doubt that Steve is having problems but I wondered why Apple/Steve kept throwing us more and more info. When a simple Steve isn't feeling well and won't be here should have been good enough.
    Reply
  • Cuddles
    Few CEO's have made a difference to a company like Steve Jobs has. When Steve left the first time Apple crashed and burned. When he returned he turned the company around and brought it the success that it is today. Some people just don't understand how significant Steve was and is to Apple. In many ways people bought stock into Steve Jobs not Apple. People like to compare Microsoft to Apple but it isn't the same. Microsoft wasn't Bill Gates but was a people's company with a firm foundation of people who have helped to deliver a product. When you buy stock into Microsoft you buy into the company. Apple isn't built like that nor pretended to be like that. When a product was launched people knew that it was just one persons dream that they held in their hand. Now who is going to be the one who creates that dream? Who is going to be the one who stamps their name on that product?
    Apple was Steve and Steve was Apple.
    Don't believe that one man can be the company?
    Look up the audio company that used to be called Carver. The board didn't think that one man could make the company and they were wrong. Bill Carver left and so did the company.
    Will Apple survive without Steve? They didn't before. History shows that without Steve there is no Apple. Steve Jobs was everything to Apple and without him Apple is worth nothing. That is why his health mattered.
    Reply
  • E7130
    Its a shame that a company's ability to survive in the market lies on the shoulders of one man and not the products that it delivers. These articles and the stocks up and downs lead me to believe that people will think less of Apples products after the face of the company is gone. I even talked to a girl that thought Steve made the products with his own hands...sad...very sad.

    I would like to thing that Apple's survival is not dependent upon Jobs presence, but the service and products they release as said before.
    Reply
  • graviongr
    How about investigating the price gouging Apple does to it's customers. This christmas I rallied up the family to buy a new computer for my brother, I'm a PC enthusiast and build my own systems. I never understood the Apple hate, rather I just preferred PC's... until I tried to buy one.

    I split the cost 3 ways with mom and pop (all 4 of us live in different area's of the country). I almost threw up when I saw how little hardware you get just to be able to say you own a Mac and use OSX.

    Ok this may be off topic a little bit so I'll stop here, I know there's nothing legally wrong with Apple's pricing, but oh my God how they overcharge.
    Reply