1 Someone May Sue Apple For It
In the wake of the rare revenue guidance revision, law firm Bernstein Liebhard announced and advertised that it is exploring a potential class-action lawsuit targeted at Apple. In a blog post on its website, the firm said it would “investigate” allegations of possible securities fraud violations on behalf of Apple investors.
Specifically, Bernstein Liebhard alleges that several statements made by Tim Cook over iPhone demand in China amount to “materially misleading business information.” It’s worth noting, however, that those statements referred to the quarter before the holiday quarter — so not the one which had its revenue guidance slashed.