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

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.