Apple CEO Tim Cook’s comments at the center of a class action suit against Apple
The plaintiffs are led by the Norfolk County Council as Administering Authority of the Norfolk Pension Fund, located in Norwich, England. The suit is filed in U.S. District Court, Northern District of California. Apple and its legal team will have to try and create some doubt about whether Cook should have had knowledge of what was happening with China’s economy and how it would affect the company. Investors who are managing large sums of money, such as the plaintiff, would consider Cook’s comments a sign that Apple wasn’t experiencing any issues related to its business in the country. If you were sitting on the jury trying the case, could you believe that the CEO of one of the most powerful tech companies worldwide had no idea about the economic conditions in one of the most important countries where the firm does business? It is a long shot to be sure which means that unless Apple feels strongly that it can win, it might behoove the tech giant to settle. Of course, we’re not lawyers nor do we play one on television.
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