CNN is "doing its best to provide [the Securities and Exchange Commission] with information about the posting" on CNN's iReport "citizen journalism" site that claimed Apple CEO Steve Jobs had gone to the emergency room last night after experiencing a "major heart attack."

The report dropped $7 billion of Apple's stock price in a matter of minutes before it was refuted by Apple.

Part of the SEC's purview is to investigate the release of false rumors which can affect markets and enable market manipulators to make huge gains in a very short time.

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