A class action affects Apple following comments made by Tim Cook.
This is not abnormal for a large company like Apple. The Tech giant is regularly targeted by class action lawsuits from shareholders or disgruntled consumers. To cite just one example, we told you last year about this class action filed following the malfunctions observed on the butterfly keyboard of the consumer MacBook released in 2015.
The words of Tim Cook are singled out by the complainants
A new “class action” has this time been filed by a group of British shareholders from the county of Norfolk. The latter manages a pension fund of several billion dollars and he would have left a lot of money in this business. But, any holder of Apple stock who feels aggrieved also has the right to join this action.
The facts date back to November 2018 when Tim Cook commented on the results of his company. While he mentioned some difficulties regarding sales, he then completed his remarks: “ I would not put China in this category ”.
Then, in 2019, the Cupertino company lowered its revenue forecast due to falling iPhone sales in China. For the complainants, this change of position came too late and the management had to anticipate this problem much earlier.
It is once again the Californian judge Yvonne Gonzalez-Rogers who takes charge of this case. For its part, Apple considered that the words of its leader were only a statement of opinion, and that they are therefore protected by law. The Apple brand clarifies that this complaint “ does not allege any false or misleading statement that could give rise to an action ”.