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Former Apple Inc. (NASDAQ: AAPL) CEO Steve Jobs is famous for the great products he's introduced and for his "reality distortion field." These twin forces are getting Apple into trouble now that some doctors speculate that Jobs may need an operation to remove his pancreas -- requiring massive insulin injections to keep him from getting severe diabetes.
If Jobs did not come up with so many great products, then his health would not be of such a concern to Apple shareholders. And if he was not so intent on forcing those around him to repeat his version of reality to the rest of the world, Apple would not be in trouble with regard to its less than forthright disclosures about Jobs's health. In August 2004 Jobs had surgery to remove a pancreatic cancer tumor that wouldn't require chemotherapy or radiation. Jobs told Apple's board about his cancer and directors decided to say nothing. Perhaps they should have disclosed this to shareholders.
But since Jobs is both a creative genius, which makes him central to Apple's future, and a reality distorter, investors may have a basis to sue Apple's board for failing to disclose what they knew about Jobs's health -- both in 2004 when he had surgery for pancreatic cancer and over the last year -- during which rumors of health problems have repeatedly surfaced.
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