Apple must face lawsuit over Tim Cook’s China 2018 sales predictions

Shareholders who claim to have lost billions because Tim Cook failed to warn them of falling demand in China, have been told they can bring a class-action suit against Apple.
Tim Cook

In 2019, Apple took the unusual step of revising its revenue guidance prediction down because of lower iPhone sales in China. However, a group of shareholders, led by the UK’s Norfolk County Council, now say that this was too late. They argue that CEO Tim Cook should have foreseen the issue and said so during Apple’s late 2018 financial earnings call.

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