Investigations

SEC Probes Apple

Were investors misled over Jobs' health?

Apple's woes continue to mount: Bloomberg is reporting that the SEC is reviewing Apple's disclosures over Steve Jobs' health in order to make sure that investors weren't misled. Apple isn't yet accused of any wrongdoing, but the company's stock share has plummeted 8.4 percent since Jobs stepped down for health reasons until the end of June. In order to bring a case, the SEC would probably have to demonstrate "the company tried to benefit by withholding information about an unambiguous diagnosis." Last week, Bloomberg reported that Jobs is considering a liver transplant as a result of complications from his 2004 battle with cancer. One professor who talks with Bloomberg suggests that Apple may, in fact, be Bernard Madoff's latest victim: "It's not surprising for the SEC to come in and look afterward, given the pressure and publicity regarding their handling of a lot of cases."