The lack of transparency surrounding Steve Jobs’ health over the last six months is the subject of a Securities and Exchange Commission review, according to Bloomberg.
The Apple CEO’s notoriously opaque communications in regard to his condition has sparked debate over the role of the board in communicating relevant information to shareholders.
Though the SEC’s investigation is still in its review stage, if the regulator determines that Apple committed wrongdoing by not letting shareholders in on what could have posed a severe impact to shareholders, further action may result.
“The issue here is: Did Apple or Jobs make misleading disclosures, tested by what they knew at the time?” says UC Davis Professor Robert Hillman. “A disclosure could be misleading if it’s a partial truth.”
Jobs, who announced last month that he underwent a successful liver transplant in April, returned to work last week.