The question has morphed from - Could something be wrong with Jobs' health - to - Is his health "material." This could be one for corporate governance expert Nell Minow of the Corporate Library.
As Justin Scheck and Ben Charny discuss in today's THE WALL STREET JOURNAL, Apple's refusal to give any information about Jobs' health has made investors increasingly concerned. The company claims it is a private matter. Jobs, as most of us know, had a 2004 case of pancreatic cancer which was cured.
The lawyers interviewed for the WSJ article indicate that it is unclear if the issue is material. As long as those with insider information about Jobs' health aren't profiting from it through stock sales, there might not be any violation of disclosure rules. Given this information void, investors such as hedge fund managers, say Scheck and Charny, are doing their own sleuthing. Some have hired private investigators. Some are showing medical doctors ongoing photos of Jobs to get a take on his health.
My hunch is that Minow will soon pop up in the media with an analysis of this situation in governance terms. both legal and ethical.
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