Apple accused that she fraudulently conceals the demand for iPhone, particularly in China, leading to tens of billions of dollars of losses to shareholders.
U.S. District judge Yvonne Gonzalez Rogers ruled that shareholders can sue to the comments of the Executive Director Tim cook about a strong demand for the iPhone made on 1 November 2018 during a conference with analysts Cola. It happened just days before Apple said its largest contract to cut production.
“In the absence of some unforeseen circumstances or other causes of interference, it is difficult to believe that cook a few days before production cutbacks did not know that the demand for iPhone in China falls,” decided the judge.
the Judge also said that Apple’s decision to cease to report in financial statements the number of sold smart phones “most likely illustrates that the defendants had expected a decline of sales.”
Apple did not respond immediately to requests for comment.
a class-action lawsuit, who headed the Pension Fund of the employees of Rhode island, was filed after January 2, 2019 Apple suddenly lowered the forecast of the quarterly Apple revenue at $ 9 billion, partly due to intense trade between the US and China.
It was the first time since the launch of the iPhone in 2007, when copertina the company reduced its forecast for revenues. Apple shares fell 10% the next day, cutting the company’s capitalization at $74 billion.
cook said during a conference of the stake with analysts that the start of sales of the iPhone XS and XS Max was great, and that some emerging markets there is a decrease in sales, but cook “is not China refers to this category.”
By mid-November, 2018, the company said Apple manufacturers Foxconn and Pagatron on the termination of plans to build new production lines of the iPhone, and one of the key suppliersthe ICA was proposed to significantly reduce the supply, says the lawsuit.