Thursday, June 4, 2020
Lawsuit Accusing Apple of Hiding Weakening iPhone Demand Prior to Early 2019 Revenue Warning Allowed to Proceed
U.S. federal judge Yvonne Gonzalez Rogers this week ruled that a class action lawsuit accusing Apple of fraudulently concealing weakening demand for iPhones between August 2017 and January 2019 can proceed in part, as reported by Reuters. In January 2019, Apple lowered its revenue guidance to $84 billion for the first quarter of its 2019 fiscal year, down from its original forecast of $89 
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