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Apple faces class action by shareholders
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Apple faces class action by shareholders
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9th November 2020, 13:45
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 153,541
 |  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 |
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