The lawsuit points to this as evidence that Apple knew on that November call that iPhone shipments were going to take a hit.
Only a short time after that November 2018 investors call, the lawsuit says, Apple started downsizing the production of iPhones.
The lawsuit says that there’s no way Apple could have not known that iPhone shipments weren’t meeting expectations prior to that January call.
The lawsuit alleges that Apple — and CEO Tim Cook, in particular — lied to investors to hide that iPhone sales weren’t going well (via Reuters).
A federal judge has given the green light to a class-action lawsuit against Apple related to falling iPhone shipments.