Teen behind the fake Steve Jobs heart attack story
What happens when you write a fake story that Steve Jobs had been rushed to hospital suffering a heart attack and post it on CNN’s ireport.com website? You will cause Apple’s stock to plummet and lose nearly $4.8 billion in market value before the story is debunked by Apple. You will also find yourself on the wrong end of an agressive SEC investigation. Such is the case of “Johntw”, the 18 year old author of said blatantly misleading and false post. According to anonymous sources familiar with the probe, the SEC has not uncovered any evidence of illegal trading on behalf of the author. Obviously the author didnt do it for the money, which begs the question why did he do it? Was it out of Boredom? Was he desperately craving some notoriety? You would think that the image of Palin email hacker, David Christopher Kernell, walking into federal court in handcuffs, shackles, and tennis shoes would be a major deterrent to pulling such high profile stunts. You would think?
Tags: Apple, CNN, heart attach, ireport, manipulation, SEC, steve jobs, stock market
but didnt steve jobs not have his heart attack before palin existed?
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LOL!!
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Hahaha. When Steve dies, so will Apple.
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This awesome, why didn’t anyone think of this before??
Message sent via MBP…
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He did it for the lulz. Obviously.
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It seems that legally speaking, if he had no financial gain as a result of this comment than he should not be charged with anything. This should be protected under free speech. If I want to claim someone died I should be able too.
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@Kyle: agreed.
What’s the harm? Why is this kid in trouble? He didn’t profit? He just posted some crap and the traders went nuts?
Where’s the harm? If I blogged something similar, am I going to get arrested?
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I don’t understand how this is illegal. Theres a BIG difference between the Palin hacker and this kid.
If he made no money from apple trades, then there is nothing he can be charged for.
Posting lies online is not against the law, otherwise there would be a LOT of people in trouble.
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Exactly. Its just a teenage prank. Its not a question of why. Its a question of why not.
I mean, who doesn’t want to wind up apple fanboys?
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He may not have profited but what about the people that lost their share of $4.8 Billion in market value. Were the few laughs that came from this worth all that?
~ Slim ~
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Are you serious? It’s called libel. You can’t publish something in print knowing it’s a lie that could cause harm to the party in question. There’s plenty of case law on this.
And yes before anyone tries to bring it up, any reasonable person can expect that this fake dealt would have an adverse effect on him and/or his lively hood.
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my response was to Kyle .
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I am not sure saying some-one is dead is libel. They would have to defame a person, ie saying steve jobs died while having sex with underage amputee midget hookers.
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Wow. A non related device post and it’s about Mr. Apple himself. What a shocker. Should be the “Boy Genius Apple Report”.
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Nothing like having all of your “apples” in one basket, so to speak. If it was reported that the H.N.I.C. of some other high-profile companies had expired would their stock plummet as well? I think this incident speaks volumes about the leadership role that Mr. Jobs has (read: dictatorship) within Apple - never mind all the software and development folks who work there as well, “it’s all me!” The irony apparently lies within the famous “Big Brother” Apple campaign in that Steve-O has become what he once wanted us to believe he stood against. This is why I don’t own so much as an iPod….
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awww, did “Johntw” upset you Kelly? So much that you had to rush to post about him being investigated? boo hoo hoo…. Your “undertones” of hoping this guy gets in some trouble could have been hidden a little better. And here I am, reading this and commenting on it…..
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Freedom of speech does not come without limitations. Limitations to freedom of speech may follow the “harm principle” or the “offense principle”, for example in the case of pornography or “hate speech”. Limitations to freedom of speech may occure through legal sanction and/or social disapprobation.
This type of writing certainly falls under the harm principal and could be considered as liable or defamation since the untrue statement caused Apple and Jobs a very substantial loss of revenues. I would not financially profit from yelling fire in a crowded movie theater but it is still a criminal act.
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lol steveo is creepy looking, if he dies apple will continue, his Clone will come back in time from the year 9595 !!!! along with the ghost of christmas past from the future lololol.
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Any moron who sells stock on an unsubstantiated rumor deserves to lose money, and the stock recovered after it came out that the unsubstantiated report was, gasp, false. So where is the “substantial loss of revenues”?
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mpG4life Said:
Nothing like having all of your “apples” in one basket, so to speak. If it was reported that the H.N.I.C. of some other high-profile companies had expired would their stock plummet as well? I think this incident speaks volumes about the leadership role that Mr. Jobs has (read: dictatorship) within Apple - never mind all the software and development folks who work there as well, “it’s all me!” The irony apparently lies within the famous “Big Brother” Apple campaign in that Steve-O has become what he once wanted us to believe he stood against. This is why I don’t own so much as an iPod….
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What an ignorant statement.
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@ EPS
Buy on the rumor, sell on the news. It’s the golden rule of wall street. Moron.
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its not “news” without a credible source.
this would be considered selling on rumor.
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@Evilhomer -
Ignorant of what exactly? Perhaps you don’t agree with what I have to say (which is cool, I’m down with that), but to say it is an “ignorant” statement is a little odd… Flame Away!!!!
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I agree, this is ridiculous…and I’m actually a shareholder.
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@bluehorseshoe: Hey, you want to take a risky strategy, you have to take your losses when it goes south. Risk is inherent in the system.
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