Apple faces class action by shareholders
 

Claims that Cook concealed falling demand for iPhones in China

Apple must face a proposed class action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China.

US District Judge Yvonne Gonzalez Rogers said shareholders led by a UK pension fund can sue over Cook’s comment on a 1 November 2018, analyst call that while Apple was facing sales pressure in some emerging market.

In the call, he specifically said that China was not in that category. However a few days afterwards Apple told suppliers to curb production a few days after Cook spoke, and unexpectedly cut its quarterly revenue forecast by up to $9 billion, which Cook blamed in part on pressure on China’s economy from US-China trade tensions.

Claims that Cook concealed falling demand for iPhones in China

Apple must face a proposed class action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China.
https://fudzilla.com/news/51839-appl...y-shareholders