San Francisco - An unidentified 18-year-old was the author of an internet posting that sent Apple shares tumbling earlier this month with a false report that company co-founder Steve Jobs had suffered a heart attack, Bloomberg News reported Friday.
The Securities and Exchange Commission launched an investigation into the report to discover whether it was motivated by investors hoping to drive down the company's stock and make a profit by short- selling it.
No further information was issued on the identity of the blogger who posted the false information on CNN's iReport "citizen journalist" web site. But Bloomberg said that investigators found no evidence that the suspect attempted to profit from the sharp drop in Apple's stock.