A U.S. judge has rejected Apple's bid to throw out a class-action lawsuit that accused Chief Executive Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China.U.S. District Judge Yvonne Gonzalez Rogers' decision late Monday night clears the way for shareholders led by a Briti
A U.S. judge has rejected Apple's bid to throw out a class-action lawsuit that accused Chief Executive Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China.
Apple told suppliers a few days later to curb production, and on Jan. 2, 2019, unexpectedly slashed its quarterly revenue forecast by up to $9 billion, blaming U.S.-China trade tensions. The judge also said that prior to Cook's comment, Apple knew China's economy had been slowing and had data suggesting that demand could fall.
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