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Home / Mac / Apple, CEO Cook, CFO Maestri faces another class action on false and misleading accounts – MacDailyNews

Apple, CEO Cook, CFO Maestri faces another class action on false and misleading accounts – MacDailyNews



"Apple's almost universally positive economic outlook, offered in investor conference calls for quarterly earnings reports, is again under control when a complaint file raises issues with comments from CEO Tim Cook and CFO Luca Maestri in the quarter leading up to a January Revenue Guidance Correction , "reports Mikey Campbell for AppleInsider. "The complaint, filed with the US District Court for the Northern District of California, recalls forward-looking statements about Apple's business in China – especially the iPhone ̵

1; for the important holiday quarter of 2018I forecasts presented during a conference call in November November, both Cook and Maestri speculated on a strong product range expected to increase gross in the first quarter of last year between $ 89 billion and $ 93 billion. "

"In addition to reiterating prepared guidance, Cook and Maestri emphasized a positive outlook in fielding questions from analysts. In particular, Cook rejected concerns about" macroeconomic uncertainty "in emerging markets such as China, referring to Apple's" very strong "performance lead Candidates also failed to recognize the British trade war between the US and China, "Campbell reports. "In the past, it turned out to be wrong, since economic headwinds in the growing Chinese market contributed to what would result in quarterly revenues of $ 84.3 billion, well below the first guidance."

"The success also claims that Apple failed to pronounce on beating the effects of its iPhone battery replacement program, started in 2017 to remove the handset throttle concerns," Campbell reports. "It was later learned that Apple replaced 11 million iPhone batteries, up to 11 times more than expected, so users could stay on their smartphone instead of buying a new model."

Much more, including the text

MacDailyNews Take: Again, both Apple CEO Tim Cook and finance director Luca Maestri could have thought back in November that China-iPhone sales will continue and they can't has managed to anticipate, although it seems to be painful in retrospect, that a late rush of battery changers would occur in December just before the low end date of the iPhone battery end date, negatively impacting sales of new iPhones.

SEE ALSO:
Class action lawsuit against Apple to make false and misleading statements to the market – May 6, 2019
Levi & Korsinsky, LLP, announce complaint action against Apple over False and Misleading Statements – April 19, 2019
Vincent Wang's law firm raises appeals against Apple and claims leaders have made false and misleading statements to the market – April 19, 2019
Bronstein, Gewirtz & Grossman announce Frist for Appeal Against Apple Over False and Misleading Statements – April 19, 2019


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