In the United States, Apple was filed a class-action lawsuit, accusing it of deliberately hiding the decline in demand for iPhone smartphones, especially in China. According to plaintiffs representing the pension fund of Roseville, Michigan, this is a sign of securities fraud. After the announcement of information about the upcoming trial, the capitalization of the "apple giant" decreased by $ 74 billion. The lawsuit was filed in the Federal Court of Oakland, California.
Recall that on January 2 this year, the head of Apple Tim Cook (Tim Cook) unexpectedly for the first time since 2007 lowered the forecast for the company's quarterly revenue. The day after the announcement, Apple's share price fell 10%, and the company's market value was 40% lower than three months ago, when it hit a record $1,1 trillion. At the same time, the CEO did not link the situation with the Chinese market, reporting only a drop in sales in Brazil and India. However, later he admitted that the real reason was just in the volume of iPhone sales in China.
The lawsuit says that after falling demand for the iPhone, Apple reduced orders from suppliers and reduced stocks in warehouses due to lower prices. However, no official statements were made in this regard, including in accordance with the corporation's decision not to disclose iPhone sales data, which was made in November 2018.
Source: 3dnews.ru