06.27.2023
Apple has not succeeded in overturning a lawsuit that alleges CEO Tim Cook defrauded shareholders by withholding knowledge of falling demand in China.The lawsuit references Apple's November 2018 analyst call,
Apple has not succeeded in overturning a lawsuit that alleges CEO Tim Cook defrauded shareholders by withholding knowledge of falling demand in China.
The lawsuit references Apple’s November 2018 analyst call, in which Cook said that Apple was seeing what he described as sales pressure in some markets. However, he then stated, “I would not put China in that category.”U.S. District Judge Yvonne Gonzalez Rogers said jurors could reasonably infer that Cook was discussing Apple’s sales outlook in China, not past performance or the impact of currency changes. according to Reuters.
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