SEC Continues Probe into Apple Statements on CEO's Health

Cupertino, Calif. -- The Securities and Exchange Commission (SEC) is continuing to investigate whether Cupertino-based Apple tried to mislead investors about the medical condition of CEO Steve Jobs, Bloomberg News reported. The SEC reportedly is interested in "how his condition went from 'relatively simple' to 'more complex' in nine days," a source told Bloomberg. Jobs announced on Jan. 5 that a "hormone imbalance" with a "relatively simple" treatment was the cause of his increasingly gaunt appearance, before saying on Jan. 14 that the health issue was "more complex than I originally thought," and said he would take a six-month medical leave of absence. During the time away, Jobs underwent a successful liver transplant before returning to work at Apple on a limited basis last week. "The issue is not going to be whether they needed to disclose the medical records," Duke University securities law professor James Cox told Bloomberg. "It's going to be whether they monitored the disclosures about his health, in relation to investor expectations that Apple would continue to be led by Jobs."
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