The U.S. Securities and Exchange Commission are exploring the 10-K reports for Apple Inc. (NASDAQ:AAPL) to ensure that investors weren’t misled according to a source for Bloomberg.  The SEC review does not mean that there is evidence of any wrongdoing.

Steve Jobs is considering a liver transplant during his five month medical leave.  The Apple stock took a hit after the news that Jobs reported that he had hormonal imbalance and took medical leave shortly after.

“The good news flipped by the bad news makes one wonder what Apple knew,” stated Duke University law professor James Cox. “It’s not surprising for the SEC to come in and look afterward, given the pressure and publicity regarding their handling of a lot of cases.” Most recently, the U.S. SEC was criticized for the handling of the Madoff scam.

Apple will be reporting their first quarter earnings at the end of the market close today.  A conference call will following the earnings report at 5PM Eastern Time.

[via Bloomberg]