Report: SEC investigating false Steve Jobs heart attack rumor

Jordan Golson — Fri, 03 Oct 2008 12:30:08 -0700

The Securities and Exchange Commission will investigate a false report that claimed Steve Jobs had suffered a major heart attack, according to Bloomberg News. The report was posted on the CNN iReport "citizen journalism" website this morning, but was quickly removed.

Apple's stock price dropped from a high of just over $106 this morning to just under $98 in a matter of minutes, before recovering most of those losses. The drop wiped more than $7 billion from Apple's market capitalization.

The agency is trying to determine if the iReport story was intended to push down Apple's stock price, or was just a prank.

The stock is back down trading around $98 this afternoon, but that's mostly a result of movement in the rest of the market, not because of the rumor.

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Report: SEC investigating false Steve Jobs heart attack rumor

Jordan Golson — Fri, 03 Oct 2008 12:30:08 -0700

The agency is trying to determine if the iReport story was intended to push down Apple's stock price, or was just a prank.

The stock is back down trading around $98 this afternoon, but that's mostly a result of movement in the rest of the market, not because of the rumor.

More news, commentary, and predictions from The Industry Standard:

Special Feature: The iPhone naysayers, one year later
Prediction: Google Chrome Mac version out by end of 2008?
Prediction: Zune Phone announced by end of 2008?
Prediction: Psystar, Mac clone maker, closes down by end of year
Prediction: Apple opens a store in Second Life
Analysis: Why podcasting is failing