|Company name||Apple Inc.|
|Class period||November 2, 2018 – January 2, 2019|
|Court||Northern District of California|
NEW YORK, May 14, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Apple Inc. (NASDAQ: APPL) securities between November 2, 2018 and January 2, 2019 (the “Class Period”). Investors have until July 17, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Apple’s business and prospects. Specifically, the complaint alleges that defendants failed to disclose that: (1) the U.S.-China trade war had negatively impacted demand for iPhones and Apple’s pricing power in greater China; (2) 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; (3) 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 (4) 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.
If you purchased Apple securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.