“Apple Inc.’s disclosures about Steve Jobs’s health remain under scrutiny by U.S. Securities and Exchange Commission investigators over how his condition went from ‘relatively simple’ to ‘more complex’ in nine days, said a person familiar with the matter,” Connie Guglielmo, David Scheer and Karen Gullo report for Bloomberg.

“A pivotal question for regulators is what Apple’s board knew at the time of Jobs’s Jan. 5 announcement that he had a hormone imbalance and a Jan. 14 statement that he was taking a five-and-a-half month medical leave, said the person, who declined to be identified because the probe is confidential,” Guglielmo, Scheer and Gullo report.

“Jobs went on to have a liver transplant during his leave. SEC investigators want to be sure that Jobs’s January disclosures didn’t mislead investors, the person said. Bloomberg News reported in January that the SEC had opened the probe,” Guglielmo, Scheer and Gullo report.

MacDailyNews Take: The SEC couldn’t open an unlicked envelope, much less conduct a meaningful investigation. (See: Madoff.) Here ya go: During the period between Jan. 5-14, Jobs’ doctors conducted more tests that showed that the initial diagnosis of a hormone imbalance presaged the discovery of a more serious issue involving his liver. Done. Case closed. Okay, you idiots? Go do nothing of value somewhere else.

Guglielmo, Scheer and Gullo continue, “One issue lawyers agree on: The law is murky when it comes to corporate disclosures about a CEO’s health. That may make the SEC reluctant to press a case, said Peter Henning, a former federal prosecutor and SEC lawyer who teaches at Wayne State University Law School in Detroit. Regulators will probably focus on the two statements made by Jobs in January, he said. ‘I think they would ask what happened between the first disclosure and the second to find out what changed,” Henning said. ‘If it’s an outright lie and he had a diagnosis before that first disclosure that, ‘You’re going to need a liver transplant,’ then there’s an issue. But I doubt the company out and out lied.’”

The three vultures continue pecking at internal organs over at Bloomberg – Think Before You Click™ – here.