I witnessed this happening at a Verizon store just a few weeks ago.
I was in the Verizon store with my mom and my brother because my brother was upgrading to the iPhone 4 because he didn't want to wait for the iPhone 5 and wanted to snag the unlimited data while it was still available. As we were waiting in line for the rep to switch the number, contacts, pictures etc. from the old phone to the iPhone, I noticed that there was a family next to ours that was talking to another rep and were asking him if he thinks they should upgrade to the iPhone 4 now or wait for the iPhone 5. What did the rep tell them? He said that they should definitely upgrade from their Droid to the iPhone NOW because Verizon wouldn't be getting the next iPhone till AT LEAST another year and a half. AT LEAST. I was shocked at the lies the rep was feeding this family.
Needless to say, I'd heard enough of that rep's BS and went right over to them and told them that he was lying and was just trying to make a quick sale. I gave them the facts that Apple releases a new iPhone every year and has done so for the last 4 years and that even the CEO of Verizon has even said that they expect the next iPhone to be released in the fall. As I was telling them this, the rep quickly denied all of the things I was saying and continued on saying that the next iPhone wouldn't be on Verizon for at least another year and a half. After listening to what I had to tell them, the family decided that they would wait and hold their upgrades until the fall which is when I told them is when the next iPhone is rumored to be announced. The family thanked me and left.
After the family had left, the rep asked me why I did that and that he could've made a sale. I said to him that what he was doing was dishonest and that he was just telling them lies. His response? "So what? I could've have made a sale and because of you I didn't."
I just walked away and continued on waiting for the rep that was dealing with my brother to finish what he needed to do, and for the rest of the time that I was in that Verizon store, that rep just GLARED at me with the angriest look, to which I simply smiled back.
Never trust what Verizon rep's tell you.