Wednesday, July 08, 2009, 08:40 am PT (11:40 am ET)
SEC still reviewing Apple's disclosures on Steve Jobs' healthThe United States Security and Exchange Commission is still reviewing disclosures made by Apple earlier this year to determine whether the company knowingly withheld material information from shareholders about the health of its chief executive.
In particular, the commission is reportedly scrutinizing statements from the company to determine what happened in the nine days from when it reported that Steve Jobs' medical condition was relatively simple to when it ultimately disclosed that there were more complex" problems, a person with knowledge of the probe told Bloomberg.
Regulators reportedly want to know what Apple's board of directors knew between January 5th, when Apple said Jobs was suffering from an easily treatable hormone imbalance, and January 14th, when the co-founder penned an open letter to the media in which he stated that his health-related issues were more complex than he originally thought.
Jobs would go on to take a medical leave for nearly six months, during which time he received a liver transplant in Memphis, Tenn. At the time of the transplant, he was reportedly the sickest person on the waiting list.
A person familiar with the ongoing investigation told Bloomberg that Apple's lead directors, Art Levinson and Bill Campbell, were being briefed by Jobs doctors on his condition during the time the company issued its contradictory statements. Should it be determined by regulators that Apple only told partial truths, its statements could be considered misleading.
Still, the ongoing review is said to be just that: a review. And there's currently no indication that the SEC is prepared to charge Apple or its directors with any wrongdoing.
On Topic: General
- Apple acquires startup BookLamp for between $10M to $15M in bid to bolster iBooks discovery
- Amazon stock dips after anaemic third quarter, tepid reception for Fire Phone
- Bose files lawsuit against Apple's Beats over noise canceling tech
- Judge voices concern over Apple's $450M e-book settlement, says may hurt consumers
- Apple concept would automatically enable iOS 'Do Not Disturb' mode during exercise