SEC to probe Apple’s about-face on seriousness of Jobs’ illnesshttps://indianexpress.com/article/news-archive/web/sec-to-probe-apples-aboutface-on-seriousness-of-jobs-illness/

SEC to probe Apple’s about-face on seriousness of Jobs’ illness

US market regulator Securities and Exchange Commission is believed to be probing IT major Apple’s recent disclosures...

US market regulator Securities and Exchange Commission (SEC) is believed to be probing IT major Apple’s recent disclosures on the health of its iconic chief Steve Jobs,says a media report. In a letter to the company’s employees earlier this month,Jobs had said he would be taking leave for more than five months on health grounds.

“America’s top securities regulator is understood to be investigating Apple’s recent disclosures about the health of Steve Jobs,” UK daily The Times said in an online report. According to the report,the SEC is “thought to be responding to pressure from investors infuriated by the technology groups surprise about-face on the seriousness of the illness affecting Jobs”.

Rumours have been doing the rounds about the possible bad health of 53-year-old Jobs. There were even speculations that failing health could even result in an early retirement for Jobs. Even though he would be on leave,in his recent communication Jobs said he would remain involved in strategic decisions of the company. Apple COO Tim Cook would be taking care of day-to-day operations in Jobs’ absence.

Meanwhile,Apple has posted better-than-expected results for the first quarter of 2009. The firm’s revenues rose to $10.17 billion in the quarter under review from $9.61 billion in the year-ago period.