Apple’s reporting on the health of CEO Steve Jobs will be the subject of an inquiry by the Securities and Exchange Commission, according to news reports.
Bloomberg News, among others, is reporting that the SEC wants to ensure that investors weren’t misled, and said the opening of an inquiry doesn’t indicate evidence of wrongdoing. Bloomberg’s reporting is based on an anonymous source “familiar with the matter.”
Back-and-Forth
Jobs, whose customary keynote address at Macworld was long the occasion for new product releases, declined to appear this year. Jobs showed up for an Apple event in June, but looked very thin.
As Macworld opened early this month, Apple sought to dispel rumors of a serious health problem by releasing a statement that the computer pioneer was suffering from a treatable hormone imbalance. The imbalance, Jobs said at the time, “has been robbing me of the proteins my body needs to be healthy.” But about a week later, the company said Jobs would take a five-month leave of absence because of “more complex” health matters.
Jobs had been in a successful treatment for pancreatic cancer since 2004, so speculation initially centered around whether the cancer had reappeared. Apple said it had not, but Bloomberg recently reported that Jobs is contemplating a liver transplant because of complications relating to his treatment.
The back-and-forth about Jobs’ health has given Apple’s stock price some bumpy rides. After the medical leave was announced, the stock fell more than eight percent. Apple COO Timothy Cook is running Apple during Jobs’ absence, although Jobs has said he intends to be involved in strategy decisions.
‘Inside Baseball’
Given the importance of Jobs to Apple’s image and product launches, his health has a more-than-usual importance to the company. Apple’s board, which includes former Vice President Al Gore and Google CEO Eric Schmidt, has declined to comment.
Although some observers…