BEVERLY HILLS, Calif.,
April 26, 2019 /CNW/ -- Thornton Law
Firm LLP announces that it is investigating a securities class
action on behalf of shareholders and investors who purchased the
securities of Apple Inc. (NASDAQ ticker: AAPL). The investigation
involves possible violations of the federal securities laws by
Apple, Timothy Cook, and
Luca Maestri. A class action has
been filed, and if you are an Apple shareholder interested in
learning more, please email shareholder@tenlaw.com, or call
617-531-3933.
According to the lawsuit, Apple and the defendants made
materially false and misleading statements regarding Apple's
business and prospects. Specifically, the Complaint alleges that
Apple failed to disclose that:
(a)
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the U.S.-China trade
war had negatively impacted demand for iPhones and Apple's pricing
power in greater China;
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(b)
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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;
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(c)
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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
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(d)
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Apple's 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.
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As a result of Apple's alleged misconduct, Apple's stock plunged
more than $15 per share, or more than
9%, from its close of $157.92 per
share on January 2, 2019 to close at
$142.19 per share on January 3, 2019.
If you purchased or otherwise acquired Apple stock (NASDAQ:
AAPL), you may have a claim for damages. Please contact the
Thornton Law Firm's shareholder rights team at
shareholder@tenlaw.com, or call 617-531-3933.
Thornton Law Firm's securities attorneys specialize in
representing individual shareholders and institutional investors in
recovering damages caused by corporate wrongdoing or fraud. Its
attorneys have decades of experience litigating securities cases in
courts throughout the country and have a proven track record of
recovering losses on behalf of shareholders.
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SOURCE Thornton Law Firm LLP