SEC examining teen's motive in fake Jobs heart attack rumor

Summary:The U.S. Securities and Exchange Commission (SEC) is examining an 18-year-old's motives after they posted a fake report on CNN's iReport.

The U.S. Securities and Exchange Commission (SEC) is examining an 18-year-old's motives after they posted a fake report on CNN's iReport.com on 3 October 2008 that Apple CEO Steve Jobs had suffered a heart attack, according to Bloomberg.

The report briefly sent Apple shares down 5.4 percent (or about US$4.8 billion) before an Apple spokesman stated that it wasn't true. According to two Bloomberg sources investigators haven't found evidence that the teen was trying to profit by driving down Apple stock.

Topics: Security, Apple, Banking, CXO, IT Employment

About

Jason D. O'Grady developed an affinity for Apple computers after using the original Lisa, and this affinity turned into a bona-fide obsession when he got the original 128 KB Macintosh in 1984. He started writing one of the first Web sites about Apple (O'Grady's PowerPage) in 1995 and is considered to be one of the fathers of blogging.... Full Bio

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