| SEC Continues To Investigate Apple’s Treatment Of Steve Jobs’ Health
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At issue is what exactly the Apple board knew about Jobs’ health, and when. On January 5, Steve Jobs explained his absence from Macworld, saying he had a “hormone imbalance.” But then, on January 14th, just nine days later, Jobs wrote a public letter stating he was taking a medical leave of absence until the end of June because he had learned in the past week his health issues were “more complex than originally thought.” During his absence, Jobs went on to have a liver transplant. Robert Hillman, a securities law professor at the UC Davis, told Bloomberg: “The issue here is: Did Apple or Jobs make misleading disclosures, tested by what they knew at the time? A disclosure could be misleading if it’s a partial truth.” Steve Jobs’ health is of particular import because past reports, true and false, on his health have caused Apple stock to fluctuate wildly. Jobs is one of those rare executives upon which investors place a large amount of the stock’s value. Of course, anyone who witnessed the performance of the company and the stock while Jobs was out noted that COO Tim Cook did a fine job. Perhaps its time for all the importance placed on Jobs’ mere presence at Apple to be retired. |
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