Apple Inc. (NASDAQ: AAPL) Investor Securities Class Action Lawsuit 04/16/2019

If you purchased a significant amount of shares of Apple Inc. (NASDAQ: AAPL) between November 2, 2018 and January 2, 2019, and / or if you purchased any NASDAQ: AAPL shares prior to November 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2019. NASDAQ: AAPL investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Apple
Case Name: 
Apple Shareholder Class Action Lawsuit 04/16/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: AAPL
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/16/2019
Class Period Begin: 
11/02/2018
Class Period End: 
01/02/2019
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
06/17/2019
Summary: 

An investor in shares of Apple Inc. (NASDAQ: AAPL) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Apple Inc. in connection with certain allegedly false and misleading statements made between November 2, 2018 and January 2, 2019.

On January 2, 2019, Apple disclosed that, for the first time in 15 years, Apple would miss its prior quarterly revenue forecast amid falling iPhone sales in China, its third-largest market after the United States and Europe. The Company announced first quarter fiscal 2019 revenues of only $84 billion, far below the expected range of $89 billion to $93 billion the Company had announced just eight weeks earlier on November 1, 2018. The Company also admitted that in addition to macroeconomics in the Chinese market, the price cuts to battery replacements a year earlier to fix the Company’s prior surreptitious conduct had hurt iPhone sales. According to the complaint the plaintiff alleges on behalf of purchasers of Apple Inc. (NASDAQ: AAPL) common shares between November 2, 2018 and January 2, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 2, 2018 and January 2, 2019, the defendants failed to disclose that the U.S.-China trade war had negatively impacted demand for iPhones and Apple’s pricing power in greater China, that due to Apple discounting the cost of replacement batteries to make up for the Company’s prior conduct of intentionally degrading the performance of the batteries in older iPhones, the rate at which Apple customers were replacing their batteries in older iPhones, rather than purchasing new iPhones, was negatively impacting Apple’s iPhone sales growth, that as a result of slowing demand, Apple had slashed production orders from suppliers for the new 2018 iPhone models and cut prices to reduce inventory, and that defendants’ decision to withhold unit sales for iPhones and other hardware, which was a metric relevant to investors and their view of the Company’s financial performance, was designed to and would mask declines in unit sales of the Company’s flagship product. As a result of this information being withheld from the market between November 2, 2018 and January 2, 2019, the price of Apple stock was artificially inflated to more than $209 per share.