Pomerantz LLP is investigating claims on behalf of investors of Apple Inc. The investigation concerns whether Apple and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 2, 2019, post-market, Apple slashed its prior quarterly revenue forecast for the already complete first quarter of fiscal year 2019, citing falling iPhone sales in China, the Company’s third-largest market after the United States and Europe. In a “Letter from Tim Cook to Apple Investors,” Apple disclosed that its 1Q19 revenues were only $84 billion, far below the expected range of $89 billion to $93 billion the Company had announced just eight weeks earlier on November 1, 2018. Following these disclosures, Apple’s stock price fell $15.73 per share, or nearly 10%, to close at $142.19 per share on January 3, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct.