“The report Wednesday that the Securities and Exchange Commission is looking closely at Apple’s disclosures about the state of Steve Jobs’ health follows speculation last week that stockholders are also likely to file lawsuits against the company,” Philip Elmer-DeWitt reports for Fortune.
“But even if Jobs has been less than forthcoming about his health problems — as many doctors suspect — legal experts say that neither the SEC probe nor any investor lawsuit is likely to get very far,” Elmer-DeWitt reports.
“Former SEC commisioner Joseph Grundfest takes an even dimmer view of suits filed on behalf of investors or speculators who lost money in the see-sawing stock price,” Elmer-DeWitt reports. “‘I never underestimate the cleverness of plaintiffs attorneys,’ he told Reuters. ‘But I personally am aware of no theory that would support a filing of a case.'”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
