Seriously...you're going to blame a CEO who is giving "forward looking statements" when these folks' portfolio manager made their investment decisions based solely on single-quarter statements? You're part of the problem. Been an Apple stockholder since around 2008. Haven't yet regretted it and would not consider joining this class action. It screams of "we had dumb portfolio managers, and now we're looking for someone else to foot the bill."The fish rots from its head: Tim Crook
Really don't like what the guys been doing over the years, stalling consumer technology progress.
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Apple Hit With Securities Fraud Lawsuit for Hiding iPhone Sales Drop
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It would mean nothing to those who sold at $140 or anything to those who thought everything was great (when it was not) and bought at $220.
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If you hold stocks and don’t understand the rules and laws around disclosure you shouldn’t be anywhere near the stock market
But that is a not a requirement for realtime updates.
It is a requirement for transparency.
There is no requirement to announce projections and sales figures if you have regular quarterly calls.
Yes and they correctly stopped when no one payed attention to anything else and the product matured. It was nonsense to wring your hands over 1-2M iPhone sales every...single...quarter. Missed the point of the company.
Finally, investors are starting to get more comfortable with it. And it was the right decision for Apple and its investors.
It’s a ridiculous theory. Why would they ever think so short term? Of course the drop in sales would become public knowledge very quickly, so why would they ever try to hide that fact just to temporarily hit a certain stock price (which they will bounce back to soon enough anyway).
Seriously!?
I reckon it's time to pull the rubbish of who's now suing Apple for picking their nose or not passing the salt from Macrumors.
I reckon it's time to pull the rubbish of who's now suing Apple for picking their nose or not passing the salt from Macrumors.
Can someone please be so kind to help me understand what this is saying?
Is Apple supposed to update people on iPhone sales regularly????
I mean is there some rule or something that says a company has to disclose that kind of info within a certain amount of time?
I’m so lost.
Is Apple supposed to update people on iPhone sales regularly????
I mean is there some rule or something that says a company has to disclose that kind of info within a certain amount of time?
I’m so lost.
Maybe not stalled but preoccupied in with his desire to be a media mogul and his political ideology.
There is some serious concerns with any computer company that produces a computer that can not replace it's HD or memory.
We hear more about his media deals and, politics, self driving cars. When it's about new devices it more often about small improvements on old devices and labeling them "pro" versions.
It's sounds misguided or ADHD.
No. There is no law that says companies have to provide real time financial updates. In fact the Apple website has a disclaimer on its forward looking statements.
Like raise prices on Macs. And remove extension cords. And not include dongles. And nickel and dime customers. And create the worst laptop keyboard, while not issuing a recall. And not recalling MacBook Pros for graphics issues. And do a terrible job with iCloud. And overcharge for cloud storage. Hmmm...I'm sure I'm missing something.
So then...ok well maybe I just won’t understand.
So are they saying Apple was supposed to tell iPhone sales were slowing???
These are bs lawsuits. Investing in equities means exposing yourself to risk. Of course companies know what is happening before that info is public. No one is in business to sabotage themselves.
When Apple decided not to share the number of units shipped/sold for the first time in the product’s history, it couldn’t have been any clearer that they expected sales to be much lower.
Any competent fund manager knows that Apple stock will nearly always recover and perform well in the long run. It is already up 40% from the beginning of January.
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They wanted Tim to come out and say iPhone sales are much lower so sell your stock now! Not a single CEO is going to sabotage their company this way.
Of course they must release statements every quarter. It’s up to analysts to determine what is expected.
When Apple decided not to share the number of units shipped/sold for the first time in the product’s history, it couldn’t have been any clearer that they expected sales to be much lower.
Any competent fund manager knows that Apple stock will nearly always recover and perform well in the long run. It is already up 40% from the beginning of January.
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They wanted Tim to come out and say iPhone sales are much lower so sell your stock now! Not a single CEO is going to sabotage their company this way.
Of course they must release statements every quarter. It’s up to analysts to determine what is expected.
If you had bothered to read the complaint, you would have seen that the plaintiffs are suing Apple because Tim and Luca lied during the earnings call, thus defrauding investors. It doesn't matter whether the investors lost money or made money, they still broke the law. Apple and Luca knew demand was softening, and they withheld that information from investors. That's illegal. They violated section 10(b) of the Exchange Act, among others. And it appears they're suing Tim and Luca personally for their illegal conduct.
You know how you avoid a federal class action lawsuit for fraud? You don't commit fraud. It's pretty simple.
If it comes out in the lawsuit that Apple hid this vital information from shareholders for a good amount of time in order to manipulate their stock, do you think it would be a good idea for regulators to make this reporting mandatory for all companies? I think it would be.
Somehow I don't think it's this black and white that the CEO and CFO "lied", knowing it's fraud and all that that entails.
This is just like Tim Cook saying
"There are absolutely no FM chips in iPhones so we cannot help those people in Puerto Rico!"
"And even if there were, we made them unusable, so it doesn't exist, so build better cell towers next time idiots."
And the irony is that he actually said some of that, but he probably meant it all.
There were many reports of poor iPhone X sales here and elsewhere and even better iPhone 7 & 8 sales than the newer phones, but the fan boys just glowed over Tim Cook's statement that iPhone X was the best selling iPhone ever. Go figure.
"There are absolutely no FM chips in iPhones so we cannot help those people in Puerto Rico!"
"And even if there were, we made them unusable, so it doesn't exist, so build better cell towers next time idiots."
And the irony is that he actually said some of that, but he probably meant it all.
There were many reports of poor iPhone X sales here and elsewhere and even better iPhone 7 & 8 sales than the newer phones, but the fan boys just glowed over Tim Cook's statement that iPhone X was the best selling iPhone ever. Go figure.
This is a civil case. Nobody will be found guilty of breaking any law. And the allegation in the complaint are allegations, not facts.
Oh the irony. Fanboys applaud Tim and use high stock values to evaluate his success. What else is Apple hiding?
These people have no case against Apple.
Just a bunch of crooked ambulance chasers trying to make a buck.
Just a bunch of crooked ambulance chasers trying to make a buck.
I never saw anyone here attributing Apple success exclusively to Cook, do you have examples?
That said, with literally dozens of multi billion companies investing and working on consumer technology, the idea that one person could single handedly slow the field is really preposterous.
What innovation has to do with this article is another enigma.