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.