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Case Status:    ONGOING    
On or around 07/02/2019 (Ongoing date of last review)

Filing Date: April 16, 2019

According to the Complaint, Apple is a multinational technology company headquartered in Cupertino, California that designs, develops, and sells consumer electronics, computer software, and online services. The Company’s most well-known products include its iconic iPhone smartphones, the iPad tablet computer, the Mac personal computer, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, and the HomePod smart speaker.

The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Apple’s business and prospects. Specifically, the Complaint alleges Defendants failed to disclose that: (a) the U.S.-China trade war had negatively impacted demand for iPhones and Apple’s pricing power in greater China; (b) due to Apple discounting the cost of replacement batteries to make up for the Company’s prior conduct of intentionally degrading the performance of the batteries in older iPhones, the rate at which Apple customers were replacing their batteries in older iPhones, rather than purchasing new iPhones, was negatively impacting Apple’s iPhone sales growth; (c) as a result of slowing demand, Apple had slashed production orders from suppliers for the new 2018 iPhone models and cut prices to reduce inventory; and (d) Defendants’ decision to withhold unit sales for iPhones and other hardware, which was a metric relevant to investors and their view of the Company’s financial performance, was designed to and would mask declines in unit sales of the Company’s flagship product.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AAPL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 19-CV-02033
JUDGE: Hon. Yvonne Gonzalez Rogers
DATE FILED: 04/16/2019
CLASS PERIOD START: 11/02/2018
CLASS PERIOD END: 01/02/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Francisco)
  2. VanOverbeke Michaud & Timmony, P.C.
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available