This is not unusual for a large company like Apple. The Tech giant is regularly targeted by class action lawsuits from disgruntled shareholders or consumers. To cite just one example, we spoke to you last year aboutthis group actionfiled following malfunctions observed on the butterfly keyboard of the mainstream MacBook released in 2015.
Tim Cook's comments are singled out by the complainants
A new class action has this time been filed by a group of British shareholders from the county of Norfolk. The latter manages a multi-billion dollar pension fund and is said to have left a lot of money in this affair. But any Apple share holder who feels wronged also has the right to join this action.
The facts date back to November 2018 when Tim Cook commented on the results of his company. While he mentioned certain difficulties regarding sales, he then completed his remarks: “I would not put China in this category».
Then, in 2019, the Cupertino company lowered its revenue forecasts due to the drop in iPhone sales in China. For the complainants, this change of position came too late and management should have anticipated this problem much earlier.
It is once again Californian judge Yvonne Gonzalez-Rogers who is taking charge of this case. For its part, Apple considered that the comments of its manager were only a statement of opinion, and that they are therefore protected by law. The apple brand specifies that this complaint “does not rely on any false or misleading statement likely to give rise to action».
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By : Keleops AG
