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Another group sues Apple over alleged tax fraud

Apple's recent financial results continue to bring headaches to the company. Some lawsuits accusing her of tax fraud have already been filed by investor groups around the United States, and now one more is being referred to the Cupertino Law Department, specifically related to Ma's business in the United States. China.

As reported by AppleInsider, the lawsuit filed in the Northern California District calls all individuals and groups that bought Apple shares between November 2, 2018 and January 2, 2019. According to the case file, comments made by CEO Tim Cook and the CFO Luca Maestri during a financial results conference last November presented false prospects that would have influenced investors in the wrong direction.

More specifically, Apple predicted a record-breaking quarter at the time, noting that uncertainties in the Chinese market would not be decisive and that the US-China trade war would not negatively impact iPhones sales which, as we all know. , it just happened.

The action accuses Ma of not yet accounting in its financial forecasts for the impact resulting from the battery exchange program that saw 11 million iPhones have their batteries replaced (and their extended lifetimes therefore) 11 times higher than the standard. .

Finally, the complainant further claims that Apple's decision to stop reporting the exact numbers of iPhones sales is another initiative aimed at “masking” low smartphone sales, which would also lead investors to make decisions based on inaccurate or incorrect information.

The group is seeking financial compensation for Ma's actions, but the action's judgment has not yet been set. Apple did not comment on the case.