SEC will not leave Steve 'Greta Garbo' Jobs alone

Poor Steve Jobs! He recently asked a Bloomberg reporter: "Why don't you guys leave me alone?" In addition to having some vague health problems which require him to take a leave of absence from his position as Apple Inc. (NASDAQ: AAPL) CEO, Apple's disclosure about Jobs's health is now under review by the SEC. Unfortunately for Jobs, the SEC cannot treat the CEO of a public company the same as it might an actress, such as Greta Garbo, who famously said, " I want to be left alone."

To bring any case, the SEC would probably have to show Apple tried to benefit by withholding information about an unambiguous diagnosis. In other words, it looks like there may be some legal wiggle room for Apple in the way they communicated Jobs' health challenges.

But after months of rumors, a few weeks ago Jobs said he would remain CEO while seeking a "relatively simple" treatment for a hormonal imbalance. Nine days later, Jobs said he would take a five-month medical leave after learning his health issues were "more complex."

Meanwhile, Apple is scheduled to report earnings after the market closes this afternoon.

Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.