Apple CEO Steve Jobs’ health disclosures and recent step down have triggered a wave of support on the internet, but now it seems investors unhappy with how Apple has handled the announcements could sue.
Steve Jobs’ recent step down from the CEO post triggered a $10bn fall in Apple’s stock value, but questions have been asked about whether Jobs and Co disclosed enough information to investors before the sudden announcement this week.
Crucially, if Jobs knowingly misrepresented the state of his health earlier this month when he said hormone issues had caused his rapid weight loss, Apple would have failed to make vital knowledge clear to investors interested in buying or selling shares. In other words, Apple could have just committed fraud.
“God forbid, if it turns out that there’s a recurrence of pancreatic cancer and that’s what’s causing the hormonal imbalance, but (if Apple) chose to focus on the hormonal imbalance, then I believe that you will see shareholder lawsuits,” said Larry Sucharow, chairman of New York law firm Labaton Sucharow.
No angry investors have started proceedings yet, and we’re hoping they hold off if in fact Jobs’ cancer has returned, as that would be callous – but given Jobs’ crucial guiding role at Apple, and his influence on share prices, it may only be a matter of time.
TBC | £TBC | Apple (Via Cellular News)
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