Apple accused in U.S. lawsuit of securities fraud over iPhone sales in China

Apple accused in U.S. lawsuit of securities fraud over iPhone sales in China

5 years ago
Anonymous $9jpehmcKty

https://www.reuters.com/article/us-apple-lawsuit/apple-accused-in-u-s-lawsuit-of-securities-fraud-over-iphone-sales-in-china-idUSKCN1RT22H

Apple Inc was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known. The complaint filed on Tuesday seeks damages for investors who bought Apple stock in the two months before Chief Executive Tim Cook on Jan. 2 unexpectedly reduced Apple's quarterly revenue forecast as much as $9 billion, in part because of the intensifying U.S. trade w

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