Just after coming to a surprise settlement with Qualcomm yesterday, Apple has been hit with another lawsuit. The latest is a class-action suit filed by an employees’ retirement fund and claims that Apple committed securities fraud with how it handled information about its iPhone sales.
One of Apple’s former employees alleged that the company was fraudulent in its securities through the information it gave to iPhone sales, and the employee’s pension fund filed a lawsuit against Apple. The employee, who opened the case, was working at Apple’s shop in Roseville, California. The former employee’s pension fund filed a lawsuit against Apple, saying that Apple’s iPhone sales did not go as well as they did and that the company made false claims about it.
The pension fund is demanding a collective lawsuit on November 2, 2018, and January 2, 2019, on behalf of anyone who buys ordinary shares from the Apple brand. The fund estimates that hundreds of thousands of people claim to have suffered economic losses.
After his latest earnings report released on January 29th, Apple had warned on 2 January that the income tax guide is missing four weeks. However, the claimants; They argue that Apple is aware of a decline in demand for iPhone in China in 2018 autumn and that users are less likely to choose new iPhones than they did in the past, and instead they took advantage of last year’s battery exchange program. As proof of this, they are showing a decrease in Apple’s availability and the decline in iPhone prices.
The plaintiff also filed a lawsuit against Tim Cook, saying that Apple’s CEO, Tim Cook, had made false and misleading statements in his earning of earnings data in the last quarter of 2018. ’On the same day, during a conference with both investors and analysts, Apple was asked whether China’s tax was lowering the demand for iPhone in China. Cook; The company’s answer to this question as Turkey, India, Brazil and experience problems related to the exchange rate in countries such as Russia, but said that China’s inclusion in this category. ”