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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

Show: Subjects Only | Full Comments
Close Name:Guest
Subject: Then we really know who to blame...

It's CNN and our wonderful media to blame then. What kind of news corporation would let an unverified thing like this get out - especially if it was unverified...off of an "anyone can enter anything" web form even.

Close Name:Guest
Subject: "BOY"?!

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?

Close Name:gopher Posts: 291 Joined: 28 Mar 2002
Subject: I guess the newscaster who is 50 something

Is still a boy or girl based on their absence of malice in their report. Maybe CNN will finally learn to look at its sources with more scrutiny.

Close Name:geoduck Posts: 1922 Joined: 30 Dec 2003
Subject: Call the lawyers

This adversely impacted stock value, at least temporarily. I suspect that by Monday there will be some cretin filing a 'shareholder class action lawsuit' over the incident.

In addition, if history is any guide, they will sue Apple over this not the 18 year old without any assets.

Close Name:Tpaluchniak Posts: 7 Joined: 24 Aug 2003
Subject:

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.

Quote
Guest 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?

Close Name:Guest
Subject: Oh no

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.

Close Name:Guest
Subject:

No, sorry, the law considers 18 year old to be adults. Most journalists just use the word "teen" to indicate that the person is young.

Close Name:Guest
Subject: Job is dead

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!

Close Name:Guest
Subject: This is kinda funny.

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.

Close Name:Intruder -   TMO Mac Specialist Posts: 3149 Joined: 07 Jul 2004
Subject: Re: This is kinda funny.

Quote
Anonymous 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.

Close Name:Guest
Subject:

Quote
Guest wrote:
It's not good business when the success of your company is tied to the health of your CEO.


You're right.

It's a good thing Apple hasn't made that mistake.

On the other hand, it's amazing how many people are stupid enough to believe nonsense like that.

Close Name:daemon Posts: 344 Joined: 17 May 2007
Subject:

Um, I'm sorry, but he has no responsibility for CNN.

CNN is responsible for what CNN reports, regardless of who tipped them off.

Quote
Intruder wrote:
Quote
Anonymous 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.

Close Name:Intruder -   TMO Mac Specialist Posts: 3149 Joined: 07 Jul 2004
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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