Levi & Korsinsky, LLP announces class action lawsuit against Apple over false and misleading statements

Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of Apple Inc. (AAPL).

Class Period: November 2, 2018 – January 2, 2019
Lead Plaintiff Deadline : June 17, 2019
Join the action here.

Allegations: During the class period, Apple Inc. made materially false and/or misleading statements and/or 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, one of Apple’s most important growth markets;

(b) 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;

(d) unit sales for iPhone and other hardware was relevant to investors and the Company’s financial performance, and the decision to withhold such unit sales was designed to and would mask declines in unit sales of the Company’s flagship product; and

(e) as a result of the foregoing, defendants lacked a reasonable basis in fact when issuing the Company’s revenue outlook for the first quarter 2019 and/or making the related statements concerning demand for its products, as Apple’s business metrics and financial prospects were not as strong as defendants had led the market to believe.

To learn more about the Apple Inc. class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Source: Levi & Korsinsky, LLP

MacDailyNews Take: Yeah, so everyone obviously wants a piece.

Yet 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 Law Offices of Vincent Wong files class action lawsuit against Apple, alleging executives made false and misleading statements to the market – April 19, 2019
Bronstein, Gewirtz & Grossman announces deadline for class action lawsuit against Apple over false and misleading statements – April 19, 2019

8 Comments

    1. What people say matters. Intentionally misleading others is morally bankrupt. Too bad the standards of society have degraded so much. Of course Cook wanted to hide the degrading financial situation. He misled. But Cook and his accomplices will get off with a slap on the wrist at most.

      Sign of the times. Nobody held accountable so lying is now par for the course.

      Today despite collusion being highly immoral, and a dozen instances of coordination with traitorous foreign powers is now well documented, the justice administration has decided it will pass on prosecution. The House, afraid of losing another battle with the Russian troll farm, is too spineless to act when at least 11 impeacheable offenses have been proven. Nobody is held accountable at any level for bald faced lies.

      Had one single email stolen from Hilary’s Mac server included contact with any Russian been leaked in 2015, the rabid right would have lynched her. But not for justice, they only care about relection and self enrichment. Apparently having a blatantly corrupt media whore makes good smokescreen for all the kickbacks and deals (“deregulation”) they do. When their own candidate lies incessantly, fires tons of staffers who refused to help in the coverup, well otherwise intelligent people have no issues then. Corruption is okay if your side does it. Predictably the hoodwinked right keeps backing the most corrupt president since Nixon. Unbelievable how honesty is no longer an American value. Road Warrior is more correct than y’all have been willing to admit.

      Stop the decay people. Hold liars accountable for their actions ESPECIALLY when asswipes like Cook represent an organization that once stood with integrity.

      1. This is why Apple loves secrecy so much. I agree, a fine is chump change to Apple anyway.

        The people’s government should not be allowed such leniency. The Mueller report disproves everything Trump, his lying press bitches, and Barr stated. Trump knowing sought and accepted stolen goods, then lies incessantly about it. The president ordered the White House counsel to fire the special counsel, and then ordered the White House counsel and other underlings to create a fake paper trail to cover up the initial order.

        COUNSELGATE

      2. The Mueller Report exconerated the President. Let us leave it there and move on. The Bill Clinton impeachment was worse and we left it there and moved on. Hold liars accountable, great, which Clinton are you referring to? Never mind. Agree with your Cook comments…

        1. 100% false goeb. The president is -not- exonerated. Mueller specifically stated so, if you had read any of the executive summary of the report. Read the second volume, where obstructing justice was detailed 10 times. When a staffer follows the law against direct order of an president who willfully wanted to obstruct, that is a federal offense.

          The reality of Russian intervention and the dangerous, if not provably illegal, proximity of Trump intimates to it frames the question of Trump’s obstruction quite differently than his defenders would like. Despite Trump’s endless denials, the Russians did meddle. As a matter of national security, that required investigation. Likewise, Trump associates and family did have troubling contacts with Russian emissaries. Then as Mueller proves repeatedly, Trump has been playing cover up ever since. It is also painfully clear that the Trump administration is doing absolutely nothing proactive to prevent further russian campaign meddling. Why would Trump when he knows that he was the beneficiary of all the russian lies?

          Read the report. Those are the facts, not the talking heads rallying around the unfit president to save their jobs and their swamp power.

          1. “100% false goeb. The president is -not- exonerated.”

            No, 100% TRUE the president is exonerated. Mueller’s job was to find criminal intent and recommend indictments. He did not find anything of the sort. That’s where “exoneration” BEGINS.

            “Mueller specifically stated so”

            Yes, he said so. So what? That’s not his job or constitutional duty. That is his personal opinion ONLY, nothing more. Fed to the media as an excuse and shield to cover his ass for wasting over two years and $30 million taxpayer dollars on a partisan witch hunt and coming up EMPTY.

            “The reality of Russian intervention and the dangerous, if not provably illegal,”

            Right on nothing illegal. I see absolutely no danger. The Russians, Chinese and other rouge nations have been meddling in nefarious ways for decades. The USA also meddles back, all equal to me. No harm done and NOT ONE election proven citizens of USA did not legally elect their candidate. NOT ONE!

            This all boils down to the Democrat OVERPLAYED HAND of the century for partisan purposes, nothing more. Guess you never saw the famous video clip during the Obama administration when asked about Russia meddling in elections. On CNN he grinned and laughed and said basically no way Jose and that no threat existed.

            “It is also painfully clear that the Trump administration is doing absolutely nothing proactive to prevent further russian campaign meddling.”

            100% false, Whatever. President Trump publicity acknowledged in public statements more that once Russians meddled in the last presidential election. If you get real, as I said above the Russians meddle in every election as do the Chinese and we meddle in their elections. What is the big deal here?

            That’s child’s play. The whole Mueller investigation was started by pressure from Democrat partisans to take down Trump.

            The president has been TOTALLY EXONERATED in the court of public opinion and not recommended for indictment or criminal charges by Mueller. Inconvenient truths the Democrats and the lamestream media simply can’t handle.

            Just because you don’t see exoneration acknowledged and front and center on leftist CNN, written in the leftist NY Times or Wash Post and agreed upon by the Democratic Party, means NOTHING.

            They are entitled to their opinions, same as you, but thank God they can’t change FACTS or the minds of fair minded citizens…

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