tyb
24in pythons baby!
new future ex-wife
Apple accused in U.S. lawsuit of securities fraud over iPhone sales in China
(Reuters) – Apple Inc was accused in a new lawsuit of securities fraud for concealing a slump in demand for iPhones, particularly in China, leading to a $74 billion one-day slide in its market value once the truth became known. The complaint filed on Tuesday seeks damages for investors who bought Apple stock in the two months before Chief Executive Tim Cook on Jan. 2 unexpectedly reduced Apple’s quarterly revenue forecast as much as $9 billion, in part because of the intensifying U.S. trade war with China.
It was the first time since the iPhone’s 2007 launch that Apple had cut its revenue forecast.
Apple’s share price fell 10 percent the next day, leaving the Cupertino, California-based company’s market value roughly 40 percent below its $1.1 trillion peak three months earlier.
Cook and Chief Financial Officer Luca Maestri were also named as defendants in the proposed class action. Apple did not immediately respond on Wednesday to requests for comment.
The lawsuit was filed in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System, a Michigan pension plan.
It is represented by Robbins Geller Rudman & Dowd, a securities class-action specialist.
The complaint said iPhone demand was falling because of U.S.-China trade tensions and customers’ growing preference to replace batteries in older iPhones, prompting Apple to slash orders from suppliers for new iPhones and cut prices to reduce inventory.
But none of this was disclosed when it should have been, the complaint said, in part because of Apple’s Nov. 1, 2018 decision to stop disclosing unit sales for iPhones.
Asked during a conference call that day about Apple’s performance in emerging markets, Cook cited downward pressures on sales in Brazil and India, but said “I would not put China in that category,” the complaint said.
The lawsuit was filed on the same day Apple settled all its litigation with Qualcomm Inc. Their disputes centered mainly on Qualcomm patents for mobile chips, and how much Apple should pay to use the technology.
The case is City of Roseville Employees’ Retirement System v Apple Inc et al, U.S. District Court, Northern District of California, No. 19-02033.
https://www.oann.com/apple-accused-in-u-s-lawsuit-of-securities-fraud-over-iphone-sales-in-china/
this was just a matter of time, SEC getting busy it seems-LIKE IT!
met some patriots during the calexico thang and same feeling. We work in a vacuum so getting out and having contact is a wonderful thing-especially when it confirms everything in a moar public way.
o7
Trump Administration Offers New Flexibility in Opportunity Zones
WASHINGTON – The Treasury Department is releasing a new round of regulations for tax-favored investments in low-income areas – aiming to clarify definitions for investors who are seeking to use the tax break, but wary of moving forward without clear rules.
The new rules for the opportunity-zone program, described Wednesday by Treasury officials, should make it easier for fund managers to raise money and for developers to begin construction. Investors have been eagerly awaiting the regulations, particularly because the maximum tax benefits from putting money into opportunity zones are available through the end of 2019. The regulations could inject a new round of energy and money into the program as investors search for funds to take their money before Dec. 31.
Congress created opportunity zones in the 2017 tax law, and the incentive works by attracting private investment into specified low-income areas. Under the program, taxpayers who put their realized capital gains into nearly 9,000 designated zones across the country can get three tax benefits. They can defer capital gains taxes until 2026, get a discount of up to 15% on those taxes, and pay no capital gains taxes on in-zone investments held for at least 10 years.
The proposed rules released Wednesday would offer flexibility, certainty, and answers to many of the questions investors and fund managers have been asking, a senior Treasury official said. In the absence of those regulations, most of the focus has been on real-estate investments that clearly qualify.
WSJ via
https://www.marketscreener.com/news/Trump-Administration-Offers-New-Flexibility-in-Opportunity-Zones–28441275/
>That's why your supposed to trust fucking KANSAS.
o7
nope. wrong on that one