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Rediff.com  » Business » Apple's disclosure norms may be probed

Apple's disclosure norms may be probed

Source: PTI
June 30, 2009 17:57 IST
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Apple's iconic chief Steve Jobs is back at work and his return will fuel debate over the company's disclosure practices which have drawn the attention of the Securities and Exchange Commission, says a media report.

"...Chief executive Steve Jobs returned to work after a nearly six-month medical leave...," The Wall Street Journal said attributing to Apple.

The report noted that the company provided no update on its leader's health and did not say if his responsibilities would change.

The daily said that Jobs's return would fuel debate over the firm's disclosure practices, which have drawn the attention of the SEC.

Quoting people familiar with the matter, the publication said the SEC, which opened an informal probe earlier this year, is continuing to look at the issue.

The Wall Street Journal attributing to some governance experts said that Jobs's return would likely revive controversy over the Apple board's failure to disclose his liver transplant surgery and his post-surgical prognosis.

"Apple's board hired outside counsel to represent it regarding disclosures after the launch of the probe," the report noted attributing to other people familiar with the

matter. Jobs had been on medical leave since mid-January after announcing that he had a "hormone imbalance," but has given few details about his condition, the daily said.

"He's currently at Apple a few days a week and working from home on the remaining days...We're very glad to have him back," a company spokesman was quoted as saying.

Jobs had a liver transplant in Tennessee about two months ago. The Methodist University Hospital Transplant Institute confirmed Jobs had undergone a liver transplant and said his prognosis was "excellent", the report added.

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