No, there aren’t. Totally agree.
Apple told investors pretty quickly because back in early November when they reported Q4 earnings, China was strong. It was right there in the numbers.
China happened very quickly.
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Apple Faces Second Class Action Lawsuit Threat Over Failing to Warn Investors About Slowing iPhone Demand
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Apple told investors pretty quickly because back in early November when they reported Q4 earnings, China was strong. It was right there in the numbers.
China happened very quickly.
Not to defend Apple, because it does seem that they were aware their could be issues given their cutting off unit sales information, but the only group that really will win here are the law firms and attorneys who are involved. Sure, someone who purchased shares might get some money from Apple, but it is Apple's shareholders who are paying it, not the people who did anything wrong - e.g. the executive team. The law firms are the huge winners in cases like this. Similarly with the battery issues and others, someone might get a $30 rebate or $50 coupon good on a future purchase, but the law firms stand to make millions, perhaps hundreds of millions. The average person gets nothing or very little from it.
Similarly, both Apple and Qualcomm have been abusing the court system for quite a while, but both of these are a function of the laws that are in place for this type of class action, mass tort litigation etc. The funniest thing is that it is NOT *all* lawyers. If you look at who blocks reform for baseless litigation like this you'll note that it is similar to the people that Tim Cook supports so his policies are supporting the people who are going to profit by suing Apple.
Perhaps that is his goal, to take from the small shareholders (who weren't able to sell after-hours) and consumers and give to the rich executives and rich lawyers.
Apple is reaping what Tim has helped to sow.
They knew about the backlash. They knew the numbers. It’s still more than fine.iPhone user base has increased 100M over last year. So it doesn’t matter much. People don’t need to upgrade every year.
These people are trying to sue because they didn’t have a sure thing. Clearly they don’t understand the difference between a stock investment and a business loan.
the only good thing that can come out out of this , is that tim gets fire
he should resign if he has some dignity
time for a change
we need some one who cares for the mac, not some one who only cares about everything else but not the mac
i really hope he leaves soon
he should resign if he has some dignity
time for a change
we need some one who cares for the mac, not some one who only cares about everything else but not the mac
i really hope he leaves soon
Mummy, I bet my money on the stock exchange, and I did not make as much as I wanted to. They must have cheated me!![]()
New York-based law firm Bronstein, Gewirtz & Grossman has announced it is investigating whether Apple and certain executives violated U.S. federal securities laws after the company lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year earlier this week.
![2018-iphone-trio.jpg]()
The law firm is conducting the investigation on behalf of AAPL shareholders, with potential for a class action lawsuit, and encourages affected investors to obtain additional information and assist the investigation by visiting its website.
Bernstein Liebhard LLP, another New York-based investor rights law firm, launched a nearly identical investigation of Apple earlier this week.
Apple CEO Tim Cook in a letter to shareholders this week disclosed that Apple's revenue for the quarter just ended will be approximately $84 billion, significantly lower than its original guidance of $89 billion to $93 billion, due to "lower than anticipated iPhone revenue, primarily in Greater China."
Both investigations contrast the positive language that Cook has previously used when speaking about China with the weaker language used in his letter to shareholders this week, in which he said Apple "did not foresee the magnitude of the economic deceleration, particularly in Greater China."In other words, both law firms are investigating whether Apple failed to warn investors about slowing iPhone demand, particularly in China.
AAPL closed at $142.19 on Thursday, down 36 percent from a closing price of $222.22 on November 1, immediately prior to Apple's last earnings report. As a result, Apple's market valuation has plunged from a peak of around $1.1 trillion to under $700 billion, falling behind rivals Amazon, Microsoft, and Google.
Article Link: Apple Faces Second Class Action Lawsuit Threat Over Failing to Warn Investors About Slowing iPhone Demand
Seriously, you want to have a sure thing, go invest in a deposit account. Alternatively, you want to take a risk, you may make more money, but you may also lose money. And yet, there are all these "entitled" people out there who think that the world owes them something. Hopefully there is some sort of penalty clause that will see these guys slapped with some sort of major fine for wasting the court's time
Looking at the bigger picture, I hope Apple re-think their strategy. Pricing is becoming ridiculous and is heading towards alienating their loyal customers. Also putting off potential new ones.
They are being sued for not being claravoyant about trade war consequences and global economic growth changes. Can I have a couple Billion for that?
The headphone jack has been gone for quite some time yet people still bought the phone, and the jackless phones from their competitors. It’s also time people stop acting like there is an overriding demand for tiny phones. They would not have cancelled the SE line of the ROI was there. The backlash is particular to China, which is obviously slowing economically, making premium phones hard to afford for many, and WAY more nation-loyal. The stupid trade war and those idiotic comments about the Huawei exec’s persecution being negotiable as part of tariff talks are the root cause of this. The Chinese business community is furious with the US and are more than willing to walk away from Apple.
I have considered switching to Android on and off for a while now. The one sticking point was my music library which I didn't think I would be able to move over easily from iTunes. I recently switched to Spotify which took that hurdle away and then I was bought an XR for christmas so I guess I'll be with Apple for the foreseeable future.
If you haven't got any significant barriers,. I'd say definitely give Android a go.
Investing is not playing casino. Investing might be risky, but there's intelligence behind it. It's based of audited numbers provided by the company in addition to the executives directive, information, and future direction.
When a CEO gets up and provides corporate direction and advises that everyhting is great, keep investing and than provides guidances that say they will make 90b, that's not just someone making an off the cuff remark. That's an official direction provided by the company.
Now, CEO's aren't infallible and can't predict the future. But it is their job to navigate it and do the best job by the company. This also means that CEO's have a duty and obligation to investors to be truthful, Accurate and do the best job they can to provide accurate and reliable guidance.
This lawsuit argues that Cook has been intentionally downplaying for the last 2-3 months the nature of Q1 2018's financial guidance and has only changed course this week because the numbers demanded him to. This might have merit (i don't know, and we'll have to see the evidence the plaintiffs are claiming). The thing that brings into question Cook's accuracy is that as short as a month ago, Apple was claiming everything was fine and they were on target. So either he was extremely ignorant of the realities of the china market, or, he was intentionally misleading and hiding the china turn down until it was too late to.
I myself do not see the validity to the lawsuit unless there's a clear case of Cook purposely misleading investors. This is what the plaintiff's have to prove, and unless there's some smoking gun evidence, that's hard to prove.
This message brought to you by the Packard-Bell/Gateway school of business.
If China fixes their bad practices of stealing tech ,or fixes their ip system this wouldn’t have happened. Hopefully China fixes their broken system. Hopefully they will learn after they bleed
What other American companies directly compete with Chinese firms from a product standpoint? Seems like Apple is unique in that iPhone competes directly with numerous Chinese companies that also sell smartphones. Are there any Chinese companies competing with Nike in the shoe business.
A profit warning is to let the market know, as soon as is reasonable, that the company will not make as big a return as it was expecting when it made its forecasts. In the case of Apple, it does not mean that they are losing money. It does not necessarily mean that growth figures are not in the double digit percentages. It means that however good the growth was, it was not as good as they expected.
In the meantime, as you would be aware from the press, initially Apple were being assured by the authorities that their products would not be part of the trade war activity. But then they were. If you want to blame someone, blame China for manipulative trade practices. And then, it you are really unreasonable, blame the USA for taking China to task over China's unfair and manipulative trade behaviour.
Or, of course, if you are an "entitled" investor, who wants big returns but doesn't understand risk/reward, and thinks they can get away without losses, obviously everyone but you is at fault, and they all need to be sued.
![]()
New York-based law firm Bronstein, Gewirtz & Grossman has announced it is investigating whether Apple and certain executives violated U.S. federal securities laws after the company lowered its revenue guidance by up to $9 billion for the first quarter of its 2019 fiscal year earlier this week.
![2018-iphone-trio.jpg]()
The law firm is conducting the investigation on behalf of AAPL shareholders, with potential for a class action lawsuit, and encourages affected investors to obtain additional information and assist the investigation by visiting its website.
Bernstein Liebhard LLP, another New York-based investor rights law firm, launched a nearly identical investigation of Apple earlier this week.
Apple CEO Tim Cook in a letter to shareholders this week disclosed that Apple's revenue for the quarter just ended will be approximately $84 billion, significantly lower than its original guidance of $89 billion to $93 billion, due to "lower than anticipated iPhone revenue, primarily in Greater China."
Both investigations contrast the positive language that Cook has previously used when speaking about China with the weaker language used in his letter to shareholders this week, in which he said Apple "did not foresee the magnitude of the economic deceleration, particularly in Greater China."In other words, both law firms are investigating whether Apple failed to warn investors about slowing iPhone demand, particularly in China.
AAPL closed at $142.19 on Thursday, down 36 percent from a closing price of $222.22 on November 1, immediately prior to Apple's last earnings report. As a result, Apple's market valuation has plunged from a peak of around $1.1 trillion to under $700 billion, falling behind rivals Amazon, Microsoft, and Google.
Article Link: Apple Faces Second Class Action Lawsuit Threat Over Failing to Warn Investors About Slowing iPhone Demand
The main source of issue here was that investors were (mis)led by an official Apple forecast. Sure, Apple might not have seen it happening, but I think they knew it was possible but not definitively what the impact would be.
Again it’s the spinning the truth to fit your narrative.
Apple: "Sorry, I guess we guessed wrong."
Lawyers: "That's no excuse. We're going to sue your as."
Lawyers: "That's no excuse. We're going to sue your as."
Apple did warn investors, they put it in the Terms & Conditions of the latest iOS update.
Apple: What? You’re telling us you didn’t READ the T&C?
Apple: What? You’re telling us you didn’t READ the T&C?
Welcome to government too. Local, State and Federal politicians are always trying to increase "profits" also. The private sector and the public sector have similar revenue interests.
i respect your opinion but for me he is not doing a good job
he is doing a good job to apple company filling everyone pockets
but doing an awful job to the costumer by selling outdated, defective, low quality hardware.
only care about iphones, ipads and watches but doesn’t care about the mac
tell me where is the new mac pro?
five year obsolote rule, right?
it’s been 6 years since the last mac pro
how is that doing a good job
???
I'm not an expert at shareholder suits by any stretch, but I don't see how this can go anywhere unless they have evidence Apple purposely misled investors. If Apple merely "got it wrong" then I don't think this is anything but a PR ploy by some shysters.