“Bob Moffat, who had been placed on a leave of absence as a result of a US federal investigation into his personal activities, is no longer an employee of IBM,” the message reads.

A terse farewell for a man who was reportedly a trusted lieutenant of Sam Palmisano, IBM’s (IBM) chief executive officer, and one of his possible successors. Moffat, after all, is a 31-year IBM veteran, a “true-blue” company guy who used to boost employee morale by wearing kilts and sumo wrestler suits. Clearly, the company wants to put as much distance between itself and anyone linked with what’s being described as one of the biggest insider-trading schemes of all time–even if he is an archetypal IBM executive.

Moffat, for his part, insists he left the company of his own accord. “[He] retired from IBM, he was not terminated or fired,” said his attorney, Kerry Lawrence, who also noted that the exec is “still asserting his innocence….[He left] so he could devote his time and energy to defending himself against the charges.”

Speaking at Apple’s music event, CEO Steve Jobs, in his first public appearance since his medical leave of absence, introduces iTunes 9. After noting that iTunes is the largest music store in the world, boasting some 100 million accounts, Jobs rattles off some of the software’s new features. Among them: Genius Mixes and improved synching. The latter enables more specific synching and supports a new way of managing applications for the iPhone and iPod touch with a nice drag-and-drop feature. Very easy to organize and reorganize applications. The crowd really likes this one.

Also included in this update: Home Sharing, which allows songs, movies and TV shows to be shared and copied to up to five home computers. Another very slick feature that allows users to simply drag and drop songs between computers to copy them.

iTunes 9 also features a new store with redesigned music, movie, TV pages and a handy new navigation bar. Beyond this, there’s also support for Twitter and Facebook.

“You know, some of us here are old enough that we actually bought LPs,” says Jobs. “You used to get liner notes, essays and photos, but that stuff left us when we moved to digital music.”

With that, Jobs announces iTunes LP–the official name of the company’s rumored “Cocktail” album bundle. As expected, these iTunes LP bundles will feature additional art, photos and whatnot. Apple is working directly with artists and labels to develop them.

A Doors “LP” is offered up as an example and it includes some videos exclusively recorded for iTunes–Ray Manzarek talking about how Jim Morrison named the Doors (“Not a door-door, man. Like the door in your MIND.”). Surprisingly nice little video, actually. Certainly, it’s likely to appeal to die-hard fans.

Apple (AAPL) is doing something similar with movies–iTunes extras. Movies bundled with additional photos, etc.

Live from Apple’s “Let’s Rock” Event

• iPod Updates, Games, Nano Video Cameras
• iTunes 9, iTunes LP, Home Sharing, Genius Mixes
• Steve Jobs: “I’m Vertical, Back at Apple and Loving Every Day of It”
• Event Photos by Adam Tow

People familiar with the matter tell Bloomberg that Apple’s handling of the matter remains under scrutiny and that company directors Art Levinson and Bill Campbell had been briefed by Jobs’s doctors on his medical condition at the time of the January disclosures, but little else.

Now, the path from “Steve is suffering from a common bug” to “a hormone imbalance has been robbing Steve of the proteins his body needs to be healthy” to “Steve has undergone a liver transplant” is obviously something of an eyebrow-raiser. But whether it was material to Apple’s business and therefore required disclosure isn’t clear. After all, Apple (AAPL) did just fine while Jobs was on sabbatical; the debut of new Macs, iPods and iPhones is testament to that. Beyond that, there’s this: Apple’s stock posted a 59 percent gain while he was away.

“The issue is not going to be whether they needed to disclose the medical records,” James Cox, a securities law professor at Duke University, told Bloomberg. “It’s going to be whether they monitored the disclosures about his health, in relation to investor expectations that Apple would continue to be led by Steven Jobs….[Apple] did fine. Do you need to say more than, ‘Our CEO has health problems and he’s out on leave?’ The question I think the SEC is looking at is whether it’s material.”

Clearly, shaken investors are trying to divine just what, exactly, Jobs means by “complex,” which could mean anything from more rest and time with family to surgery, IV meds or whatever.

Sounds like Jobs is doing the right thing for himself, his family and the company. But all anyone can do is hope he gets well.

Team,
I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

Steve

Coming as it does after Jobs’s disclosure last week that he had a hormone deficiency that had caused him to dramatically lose weight, this is very worrisome news for Apple and its shareholders.