LOS ANGELES, June 16, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Apple Inc. (“Apple” or “the Company”) (NASDAQ: AAPL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between November 2, 2018 and January 2, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before June 17, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Both demand for Apple’s iPhones and its pricing power in greater China were negatively impacted by the U.S.-China trade war. Because Apple discounted the price of replacement batteries for certain iPhone models, a decision made due to the revelation that the Company was purposefully degrading the battery performance of these products, customers were replacing their batteries instead of purchasing a new iPhone, impacting sales growth. Apple slashed production of 2018 iPhone models and cut prices to reduce its current inventory. The Company also withheld unit sales for iPhones and other products, a metric long used by investors to judge the Company’s performance, in order to mask the decline in sales of the iPhone, Apple’s most prominent product. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Apple, investors suffered damages.
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