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Apple Faces Class-Action Lawsuit Threat for not Warning Investors About Tanking iPhone Demand

Business Insider
  • A New York law firm is garnering support for a shareholder lawsuit against Apple.
  • That's after the company issued a shock revenue warning on Wednesday.
  • Bernstein Liebhard said Apple CEO Tim Cook can't reconcile his November optimism about iPhone sales in China with Wednesday's warning, where he blamed China's slowing economy for poorer-than-expected sales.
  • Apple has been ignoring the bigger reality about smartphones, which is that demand is slowing and they have become commoditised...
Mentions: Investors Citi lawsuit