TELETRADER News
6/3, 5:20 PM (Source: TeleTrader)
more TeleTrader news

Apple+0.13%

383.61
Chart for: Apple Inc.

Apple to face lawsuit over falsely presenting iPhone demand

United States District Judge Yvonne Gonzalez Rogers said on Wednesday that Apple Inc. has to deal with the shareholder lawsuit claiming it gave false projections and was hiding decreasing demand for iPhones, especially in China.

The judge said that Apple's Chief Executive Tim Cook falsely praised iPhone demand results during an analyst call in November 2018, just a few days before Apple tamed its production and added the shareholders can sue over it.

She said that "it is simply implausible that Cook would not have known that iPhone demand in China was falling mere days before cutting production lines."

Breaking the News / TF