18 Year Old Targeted in Jobs Heart Attack Rumor
18 Year Old Targeted in Jobs Heart Attack Rumor
by , 8:00 AM EDT, October 24th, 2008
A U.S. Securities and Exchange Commission investigation into a false report that Apple CEO Steve Jobs had a heart attack has been focusing on an 18 year old boy. The teen posted the rumor on CNN's iReport Web site and sent Apple's market value down by some US$4.8 billion in an hour, according to Bloomberg.
The SEC has yet to determine the teen's motive behind the rumor, but at this point it doesn't appear that he was attempting to manipulate Apple's stock value for personal gain.
The bogus report about Mr. Jobs's health appeared on the iReport Web site on the morning of October 3. iReport is CNN's Web site where readers can post their own unverified news stories.
The report said in part "Steve Jobs was rushed to the ER just a few hours ago after suffering a major heart attack. I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath."
Apple representatives publicly denied the heart attack rumor shortly after it surfaced which helped its stock stabilize and begin the slow climb back up to its opening position for the day.
If the SEC determines that the teen's actions weren't intended to manipulate Apple's stock value, it may not have jurisdiction to file charges. That does not, however, preclude other government agencies from pursuing criminal or civil charges in the case.
Observer Comments
Fri Oct 24, 2008 9:30 am Subject: I guess the newscaster who is 50 something
Fri Oct 24, 2008 9:42 am Subject: Call the lawyers
Well, I usually consider a Man or Woman being somebody that society treats as an adult with full rights and responsibilities. Eighteen year olds cannot drink legally, so it could be argued that in the eyes of the law, they are still kids.
QuoteGuest wrote:
Since when is an 18 year old considered a 'boy' or "girl"?
Man or Woman is typically used when describing someone of legal age. Also, if he's 18, where's his name, home town, etc?
So many people to blame for this, lol. Of course the 18 year old for making this in the first place. CNN for its "reliable" sources. And stockholders for being stupid enough to believe this crap without checking it out first.
And I wouldn't double cross Apple, now-a-days Apple is out for blood. Good luck 18 year old man/boy.
It's not good business when the success of your company is tied to the health of your CEO.
Untrue comments are spread all the time. Apple does it in their PC vs Mac ads. I don't see the SEC going after Apple for this. MS and Sony do it with their gaming consoles.
All of a sudden, a teenager comes by and decides to play their game, it's a crime and the sky is falling. Apple should be thanking the kid for finding the biggest threat to their survival, the health of Steve Job!
Fri Oct 24, 2008 2:06 pm Subject: Re: This is kinda funny.
QuoteAnonymous wrote:
Kid probably just did it for the lulz. There's no need to find motive, on the Internet, most of the time people lack motive. It's hard for the mainstream to understand this, but We do things for no personal gain on the Internet.
More like no sense of personal responsibility.
What he/she did was stupid and irresponsible, and cost many people a great deal of money. Unfortunately, folks these days don't think that things that don't directly affect them matter, regardless of what it does to others.
Um, I'm sorry, but he has no responsibility for CNN.
CNN is responsible for what CNN reports, regardless of who tipped them off.
QuoteIntruder wrote:QuoteAnonymous wrote:
Kid probably just did it for the lulz. There's no need to find motive, on the Internet, most of the time people lack motive. It's hard for the mainstream to understand this, but We do things for no personal gain on the Internet.
More like no sense of personal responsibility.
What he/she did was stupid and irresponsible, and cost many people a great deal of money. Unfortunately, folks these days don't think that things that don't directly affect them matter, regardless of what it does to others.
Tue Oct 28, 2008 10:27 am Subject:
From iReport.com:
"iReport.com is a user-generated site. That means the stories submitted by users are not edited, fact-checked or screened before they post. Only the stories marked "On CNN" have been vetted by CNN for use in CNN's global news coverage."
He most certainly has responsibility for what he posted. CNN didn't report it on their global news coverage. Others picked it up from iReport.com. He's an idiot if he didn't think that putting something like that up on the web would have some effect.
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