Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed againstApple Inc. and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Apple securities between November 2, 2018 and January 2, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/aapl.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Apple’s business and prospects. Specifically, defendants failed to disclose that: (a) the U.S.-China trade war had negatively impacted demand for iPhones and Apple’s pricing power in greater China; (b) due to Apple discounting the cost of replacement batteries to make up for the Company’s prior conduct of intentionally degrading the performance of the batteries in older iPhones, the rate at which Apple customers were replacing their batteries in older iPhones, rather than purchasing new iPhones, was negatively impacting Apple’s iPhone sales growth; (c) as a result of slowing demand, Apple had slashed production orders from suppliers for the new 2018 iPhone models and cut prices to reduce inventory; and (d) defendants’ decision to withhold unit sales for iPhones and other hardware, which was a metric relevant to investors and their view of the Company’s financial performance, was designed to and would mask declines in unit sales of the Company’s flagship product. As a result of this information being withheld from the market during the Class Period, the price of Apple stock was artificially inflated to more than $209 per share.
Then on January 2, 2019, post-close, Apple disclosed that, for the first time in over 14 years, Apple would miss its prior quarterly revenue forecast amid falling iPhone sales in China, its third largest market after USA and Europe. The Company announced first quarter fiscal 2019 revenues of only $84 billion, below the expected range of $89 billion to $93 billion the Company had announced eight weeks previously on November 1, 2018. The Company also disclosed that in addition to macroeconomics in the Chinese market, the price cuts to battery replacements a year earlier to fix the Company’s prior surreptitious conduct had hurt iPhone sales. This news caused the market price of Apple common stock to decline more than $15 per share, or more than 9%, from a close of $157.92 per share on January 2, 2019 to a close of $142.19 per share on January 3, 2019.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/aapl or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Apple you have until June 14, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Source: Bronstein, Gewirtz & Grossman, LLC
MacDailyNews Take: Again, both Apple CEO Tim Cook and CFO Luca Maestri could have thought, back in November, that China iPhone sales would continue and they might not have been able to foresee, even though it seems obvious in hindsight, that a late rush of battery replacements would ensue in December just before the low-priced iPhone battery replacement program’s end date, negatively impacting sales of new iPhones.
So, this seems like a tough one for the attorneys to prove.
SEE ALSO:
The Schall Law Firm files class action lawsuit against Apple, alleging executives made false and misleading statements to the market – April 18, 2019
Smells like bullshit
Lots of it, and mostly coming from Apple.
MDN is carefully choosing words here like a Trump spokesperson. “could have thought,” “seems like a tough one to prove.”
Maybe tough to prove (IANAL), but very easy to see why they would do it and lots of threads suggest they did/are. It’s not uncommon, we’re just accustomed to Apple being “better than that.” But it wasn’t Apple. It was Apple’s departed leadership & the fear it inspired.
Ambulance chasers…
Trite respone to potentially serious crime that your bias prevents you from caring about. Well at MDN you are with similar myopic company
https://slate.com/technology/2019/04/mueller-report-donald-trump-jr-wikileaks-twitter-hacking.html
Federal law broken. Will justice be served? Of course not. Because people like you defend your team, not the law.
And Hilliar Clinton violated the espionage act, then willfully obstructed by physically destroying evidence.
Will justice be served? Of course not, because people like you defend your team, even when they admitted they lied about sexual harassment during Kavanaugh’s hearing, lied about the Covington kids, and when video proof surfaced proving everything accused was a lie, your team doubled down on the lie.
Need I go on?
Lied about the Russians
Lied about collusion.
Said “it’s okay” to run people out of public places because they disagreed with their political beliefs.
Mocked slain children in Nevada “because they were probably President Trump supporters”.
Shall I continue? I’ve got all night and pages of hatred coming from “your team” to air.
Bet me.
You claim Clinton violated federal law. I don’t support her, there were other candidates, but fine, let’s follow your diversion. Clinton used a Mac server to manage and push emails to her Blackberry. This was at the advice of her predecessor, Colin Powell. If as you claim espionage was done, why didn’t the red team with all 3 branches of federal government under control proceed to prosecute? Are you claiming that being the victim of Russian hacking is a crime? Federal agencies have confirmed that all 50 states electoral computer systems have been under attack by Russian operatives, and the Trump campaign we now know had 10 proven coordination/meetings with them. Obstruction and evidence destruction is much more likely there, as we shall see going forward, because after indicting over 30 people, there are still over a dozen more investigations ongoing that Mueller handed off. The biggest defense Trump has is that he was ignorant of federal law.
Nobody lied about Kavanaugh. Multiple witnesses of both parties confirmed he was an out of control binge drinker in college and confirmed he had relations with the victims. However concrete evidence was not gathered back then, the statute of limitations had expired, so his rape was not punishable by law.
Since you obviously haven’t read a single page of the Mueller report, Inwill remind you that the Trump team, including professional apologist Barr hand picked as a shield, keep repeating the term “collusion” as if it meant something. It does not. The federal law in question is conspiracy to commit treason by entering into business deals with a foreign power. Mueller simply concluded, in short, that he did not determine money changed hands. He DID confirm active collaboration, repeated attempts at Conspiracy by an inept and ignorant campaign, and multiple impeachable offenses and cover up that can only be dealt with by congress. The next moves are going to be public hearings and then congress will determine if violations are severe enough and enough concrete evidence exists to impeach because Barr has, as we all know, stated his opinion that he could never fire his employer. That constitutional question may very well be decided in court, perhaps after Trump resigns.
I know you can’t get this through your bipolar little head, but this isn’t about partisan politics. It’s about constitutional duty to work on behalf of the US and not for foreign powers. If Trump took one dime from a Russian oligarch, he’s in breach of the constitution. There is no question unscrupulous Trump will take money from anybody, that’s abundantly obvious. The real question is whether Trump obstructed justice enough to warrant removal from office. You have already made up your mind despite being totally ignorant of the facts Mueller brought to light. I recommend you take off your red maga paraphernalia and read what your orange liar has really done behind closed doors.
Ouch! Apple and shareholders only lost about $450B of market value in a month or so due to declining iPhone sales in China. Why get upset over something like that? Heh heh…
“If as you claim espionage was done, why didn’t the red team with all 3 branches of federal government under control proceed to prosecute?”
They professionally waited for the Mueller Report to be over. Smart, very smart. Hillary, Comey, Clapper, Rice, et al. are going to be in the crosshairs soon with the Trump Cloud lifted. Wait for it.
“Nobody lied about Kavanaugh.”
The Number One accuser LIED and could NOT REMEMBER key details. Opinion polls agreed and don’t forget the Susan Collins pivotal media game changer vote. That’s why Kavanaugh is wearing a black robe sitting on the court today, rightly Justice is served. You really need to come to grips with reality and move on.
“Since you obviously haven’t read a single page of the Mueller report,”
Tell the class how you know that definitively, we are waiting.
“Will remind you that the Trump team, including professional apologist Barr hand picked as a shield,
“Shield?” Drunk on CNN again, got it. When he fired Sessions President Trump has a constitutional duty to appoint a replacement. Don’t you know every President” since George Washington “hand picks” their own team.
“ keep repeating the term “collusion” as if it meant something. It does not.”
We finally AGREE. Over two years of investigations, 30 million dollars wasted, finally, the Mueller Report finds absolutely NO “collusion” and obstruction of justice with Russia. Our hard working president, long overdue, finally received his rightful EXONERATION! What a glorious report. 🤣
“I know you can’t get this through your bipolar little head, but this isn’t about partisan politics.”
First a personal attack and then the partisan LIE. That’s exactly what this is all about. The Mueller investigation began under partisan demands, hello?
“There is no question unscrupulous Trump will take money from anybody, that’s abundantly obvious.”
Right, a self made billionaire and the first president to refuse a $400,00 salary needs to squeeze every dime he can shake down. You are totally confused, you just described Hillary to a T.
“The real question is whether Trump obstructed justice enough to warrant removal from office. “
Drunk on CNN again, part two. 🤣
“You have already made up your mind despite being totally ignorant of the facts”
Look in the mirror.
“I recommend you take off your red maga paraphernalia”
I recommend you take off your DNC paraphernalia.
“read what your orange liar has really done behind closed doors.”
Behind closed doors President Trump and his team have axed onerous regulations to set the economy on fire and set numerous all time government statistical records including several employment records. But I understand you don’t want to talk about that. So again, no “collusion,” no charges and exoneration. The Bogeyman only exists in extreme partisan heads that are incapable of handling REALITY.
Listen carefully, one-sided opinions and guilt by association are NOT facts. You should remember that…
obvious you haven’t cracked open the Mueller report, goeb. Damning evidence galore there. do us all a favor and read the facts yourself instead of drinking faux kool aid all day. You aren’t a rabid liberal if you read this stuff and admit that this president had his priorities totally backwards. The office is not supposed to be about having everyone especially the press kiss his ring. The president is supposed to be a servant of the people solving problems. Instead whiny Trump blames others for crises. For example: Are immigrants 100% to blame for Americans opioid addiction? That is all you hear Trump tweet. He clearly has no grasp of tackling all the other aspects of the problem and wouldn’t spend a dime on any measures if a plan was handed to him. That is gross negligence of duty. When not golfing, this president cares nothing about anything else but getting good press. When he doesn’t, the press is the “enemy of the people”, which is diametrically opposed to what the Constitution tells us.
Even if congress is too lazy to impeach for the several offensed that Mueller documents, the nation deserves better than a carnival barker con man in the White House. Don’t pretend this MaraLago golfer tweetaholic is the best you can come up with. Seriously.
Goeb – You are so eager to defend Trump that you didn’t answer the questions asked. If Hillary broke the law, why isn’t your party convicting her of anything? Is it perhaps because she used the same tools and techniques that both corrupt parties use?
I don’t watch CNN and I am not defending the DNC, which I despise. Can’t you read what I am writing, Goeb? Or is your reality distortion field so far to the right that it’s somewhere over the Atlantic?
Behind closed doors Trump thinks of nothing but himself. If you had a clue what was done, rather than what Trump tweets about, then there would be no “closed doors”, would there be? Why exactly are you proud of an administration that can’t be transparent or truthful about anything? Trump obviously has lots of profitable foreign entanglements and based solely on the amount of time he spends away from the White House at his private retreats, it appears he conducts a lot of business for himself instead of for the American people. But you know better, don’t you? You’ve read his daily agenda (which is published by the press you don’t like) and can confirm that he does all this awesome red tape busting from the crack of dawn. Errr … closer to 11 am on most days. Crack of dawn is reserved for TV and Tweet time. As you F.ing know.
More insightful reading for you Goeb: you parrot the endless the false claim Trump makes about being “exonerated”. Trump had weeks to read the report but obviously isn’t interested in the truth. If he had, one of his staff could have pointed him to Mueller report page 178 footnote # 1091. Citing the Constitution directly, it states clearly that even if Congress chooses not to take the data presented in the report to impeach the president for Obstruction of Justice, the president is still liable after he leaves office.
“A possible remedy through impeachment for abuses of power would not substitute for potential criminal liability after a President leaves office. Impeachment would remove a President from office, but would not address the underlying culpability of the conduct or serve the usual purposes of the criminal law. Indeed, the Impeachment Judgment Clause recognizes that criminal law plays an independent role in addressing an official’s conduct, distinct from the political remedy of impeachment. See U.S. CONST. ART. l, § 3, cl. 7. Impeachment is also a drastic and rarely invoked remedy, and Congress is not restricted to relying only on impeachment, rather than making criminal law applicable to a former President, as OLC has recognized. A Sitting President’s Amenability to Indictment and Criminal Prosecution, 24 Op. O.L.C. at 255 (“Recognizing an immunity from prosecution for a sitting President would not preclude such prosecution once the President’s term is over or he is otherwise removed from office by resignation or impeachment.”
This explains why lyin’ Trump’s self defense propaganda push has been nonstop and increasingly shrill. Whereas in 2017 he was certain he didn’t want the responsibility of managing the nation because it interfered with is golf game, he now knows that even if McConnell protects him from impeachment, there will be a horde of lawsuits coming at him even faster than usual the second he leaves office. King wannabe Trump wants to delay that as long as possible, preferably dying on the throne versus facing justice. It will all become clear when Trump’s tax returns are made public, which is likely where the smoke leads. Trump never could resist a profitable deal, even when the deal is struck with foreign oligarchs in the middle of his presidential campaign. An innocent man wouldn’t have admitted “I’m F.ed” and spent 3 years trying to fire every layer of the Justice Department and FBI possible if he had nothing to hide. Even you must admit that.
Another lawsuit, as so it begins…
I am reminded of a few brilliant quotes that will go down in history.
Upon learning of a special counsel appointed to investigate Russian conspiracy, Trump slumped into his chair and uttered, “This is the end of my Presidency. I’m f’ed!”
White House counsel Don McGahn, after being berated by Trump for refusing to fire Mueller, then for refusing to lie to the Department of Justice about Trump ordering him to do so, and then finally for taking notes on his conversations with the president:
Trump: “I never had a lawyer who took notes.”
McGahn’s retort: “I take notes because at least I’m a real lawyer.”
Priceless.
“false and misleading statements”
Cook keeps some company that does nothing but issue lie after lie after lie.
Trump tweet: “The Mueller Report … was written as nastily as possible by 13 (18) Angry Democrats who were true Trump Haters, including highly conflicted Bob Mueller himself.”
Facts: Mueller and most of his team are lifelong Republicans, and the report is mostly dry legalese. They refrained from ripping into Trump personally despite Trump’s repeated desire and willingness to commit conspiracy by buying stolen emails from Russian operatives.
Trump repeatedly asserts that the Mueller investigation was launched by Democrats after the 2016 election.
Facts: The FBI began the investigation into Russian meddling well before the election. One of Trump’s advisors, George Papadopoulos, was indicted.
Trump tweet: “greatest Witch Hunt”
Facts: Trump forgets all about the Salem witch trials. Over 30 individuals, including key Trump staff members, have been prosecuted for their illegal actions, including political scum like Paul Manafort and Dumbass Stone.
KellyAnne Conway, in contrast with her husband, incessantly repeats Trump lies like “complete exoneration”.
Facts: The Mueller report repeatedly cites that because of obstruction of justice, there is more work to be done, and the authority to do this lies with Congress. Over 10 specific instances of the president obstructing justice are detailed in the report. “The evidence does indicate that a thorough FBI investigation would uncover facts about the campaign and the President personally that the President could have understood to be crimes or that would give rise to personal and political concerns,” the report states.
Sarah Sanders, professional liar, was notably caught in another one when the Mueller Report, interviewing her under oath, found her admitting the exact opposite of the bald faced lies she lays on the American People.
Facts: read her actual testimony in the Mueller report.
Billy Barr, who obviously was recruited specifically because of his longstanding views that a president is immune from any prosecution by the Justice Department, talks from both sides of his mouth. Barr claims he alone has prerogative as Attorney General to control the investigation, but then under deeper questioning that the people’s representatives in Congress have ultimate duty to determine the true extent of Russian influence on election systems and in the current administration. He has filled in the gaps in the Mueller report with his partisan narrative, which of course is all that is repeated by Trumpoviks.
FACTS: Russia not only infiltrated DNC email servers, they also infiltrated Republican servers and official election systems in all 50 states (May 2018 SIC report). As far as we know, only Democrat emails were released (Wikileaks) in the election but the Russians created many troll farms to character-assassinate other Republican candidates (FBI presentation to Senate Intelligence Committee, 10 Jan 2017, before Trump was sworn in). Interestingly, Trump also follows the Russian approach, trashing Republican senator John McCain for unknown reasons.
Russians used Facebook, Instagram, Reddit, Tumblr, Pinterest, Medium, Youtube, Google, Twitter, and other platforms to dew discord and division among Americans. Estimates show that at least 25 social media feeds targeting right wing groups in the USA to raise their ire.
On July 27, 2016, Trump specifically called on Russia to hack and release Clinton’s emails. He claims he was speaking “sarcastically”, however this is illegal per the Logan Act.
It worked, as MDN political vitriol illustrates. The Mueller report uncovered at least 26 Russian operatives (and more to come).
More facts: Money flowing from Russian oligarchs to US politics is only now becoming clear — thanks to Citizens United, it’s nearly impossible to identify what election money is donated by US citizens and which are foreign powers trying to undermine US elections.Alek Torshin, deputy governor of the Central Bank of Russia, is being investigated for his funneling of money to Trump, using intermediaries including the NRA, which kicked in $30 million to the Trump campaign, more than any other independent PAC. Maria Butina, a Russian operative, provided services to Trump under the cover of her business Bridges LLC, which was founded with Republican political consultant Paul Erickson.
Mueller found that another Russian oligarch, Viktor Vekselberg, funneled money through American donors, making hundreds of thousands of dollars in payments to now convicted Michael Cohen, Trump’s personal attorney. Several financial links between Russia and Trump campaign officials are still underway.
The God complex has to stop. Cook, like Trump, thinks he knows everything and can say anything and get away with it. Wrong. Apple has lost its focus on excellence, and is playing Wall Street games to cover up for its poor execution on its existing business. Trump has done basically nothing but feed red meat to his remaining supporters to shield his revolving door administration from further embarrassment. At best, he’s a con man willing to accept dirty (but legal) cash and aid from foreign powers. At worst, the US republic has shown itself incapable of managing its own election systems.
Should you be worried? Yes. Russia easily just installed another puppet president — this time in Ukraine. Volodymyr Zelenskiy, a TV comedian pretend-executive, not unlike Apprentice Trump, was elected despite no experience. His prior employment? As an actor for a Russian-owned production company.
At some point Americans are going to have to stop the partisan bullshit and look at what fools Putin has been making of low-information Americans.