INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Apple Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)-- Robbins Geller Rudman & Dowd LLP Apple class action lawsuit. Captioned Tucker v. Apple Inc., No. 25-cv-05197 (N.D. Cal.), the Apple class action lawsuit charges Apple and certain of Apple's top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Apple class action lawsuit, please provide your information here:
CASE ALLEGATIONS: The Apple class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Apple misstated the time it would take to integrate the advanced artificial intelligence ('AI')-based Siri features into its devices; (ii) accordingly, it was highly unlikely that these features would be available for the iPhone 16; (iii) the lack of such advanced AI-based features would hurt iPhone 16 sales; and (iv) as a result, Apple's business and/or financial prospects were overstated.
The Apple class action lawsuit further alleges that on March 7, 2025, Apple announced it was indefinitely delaying promised updates to its Siri digital assistant. The Apple class action lawsuit alleges that on this news, the price of Apple stock fell.
Then, on March 12, 2025, the Apple class action lawsuit further alleges that Morgan Stanley published a report in which analyst Erik Woodring lowered his price target on Apple from $275 to $252, asserting that the delay in introducing advanced Siri features would impact iPhone upgrade cycles throughout 2025 and 2026, and presenting evidence that roughly 50% of iPhone owners who did not upgrade to the iPhone 16 attributed their decision to such delays. On this news, the price of Apple stock fell further, according to the complaint.
Thereafter, the Apple class action lawsuit alleges that on April 3, 2025, the Wall Street Journal published an article titled 'Apple and Amazon Promised Us Revolutionary AI. We're Still Waiting,' which stated, in relevant part, that '[w]ith 'more personal' Siri . . . , the tech giant[] marketed features [it] ha[s] yet to deliver,' and suggested that while 'this is challenging technology and the cost of getting it wrong is devastatingly high, especially for [a] compan[y] like Apple . . . that must build trust with customers,' 'the same responsibility applies to marketing: They shouldn't announce products until they're sure they can deliver them.' On this news, the price of Apple stock fell more than 7%, according to the complaint.
Finally, on June 9, 2025, Apple hosted its Worldwide Developer Conference ('WWDC'), almost one year to the day after first announcing the suite of supposedly forthcoming Apple Intelligence features at the 2024 WWDC, and Apple failed to announce any new updates regarding advanced Siri features, according to the complaint. On this news, the price of Apple stock fell further, according to the complaint.
Last year, Robbins Geller secured a $490 million recovery in a securities fraud class action case alleging Apple CEO Timothy Cook made false and misleading statements to investors – the third-largest securities class action recovery ever in the Northern District of California and the fifth-largest such recovery ever in the Ninth Circuit. In the order granting final approval of the settlement, the court recognized the 'skill and strategic vision, as well as the risk taken by [Robbins Geller]' in securing the sizeable recovery while efficiently managing the 'uniquely complex' aspects of the case against 'highly sophisticated and experienced counsel and defendants.' Learn more by clicking here.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Apple securities during the Class Period to seek appointment as lead plaintiff in the Apple class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Apple class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Apple class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Apple class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
33 minutes ago
- Business Wire
Stem, Inc. Significantly Strengthens Balance Sheet Through Convertible Notes Exchange and New Notes Issuance
HOUSTON--(BUSINESS WIRE)--Stem, Inc. (NYSE: STEM) (the 'Company'), a global leader in AI-enabled clean energy software and services, today announced that it completed a privately negotiated exchange (the 'Exchange Agreement') with certain holders of the Company's outstanding 0.500% convertible senior notes due 2028 and 4.250% convertible senior notes due 2030 (the 'Existing Notes').The transaction resulted in a reduction in outstanding debt of approximately $195 million. We believe we have enabled Stem to accelerate its growth and build on the momentum and confidence that our new leadership team has created with customers. Share 'This transaction is an important first step in the transformation of our balance sheet and helps create the flexibility we need to advance our software-focused strategy and create value for shareholders,' said Arun Narayanan, Chief Executive Officer of Stem. 'By reducing our debt by nearly $200 million and raising $10 million of cash, we have positioned Stem to accelerate its growth and build on the momentum and confidence that our new leadership team has created with customers, employees and shareholders,' added Mr. Narayanan. 'This transaction delivers a unique mix of benefits for Stem,' said Doran Hole, Chief Financial Officer of Stem. Mr. Hole continued, 'In addition to significantly reducing our near-term liabilities, it creates a runway by extending the maturity date to 2030 for the majority of our outstanding debt and provides the option to PIK interest payments, giving us the ability to manage liquidity while continuing to invest in the business. This transaction also builds on our momentum and reinforces our ability to execute on our strategic plan.' Transaction Details Under the terms of the Exchange Agreement, the Company will: Acquire approximately $350 million of aggregate principal amount of the Existing Notes including approximately $229 million of its Convertible Notes due 2028 (77% of total principal amount outstanding) and approximately $121 million of its Convertible Notes 2030 Notes (51% of total principal amount outstanding); Issue $155 million aggregate principal amount of new first lien senior secured notes (the 'New Notes') and warrants to purchase 439,919 shares of the Company's common stock at a strike price of $30.00 per share (post-split) until December 1, 2030; and Receive $10 million in cash. The New Notes will: Be senior secured obligations of the Company and be guaranteed by certain of the Company's material subsidiaries; Accrue interest at a rate of 11.000% annually, payable in cash or, at the Company's option, in-kind at a rate of 12.000%, subject to a $160 million first lien cap; and Mature on December 1, 2030 As a result of the exchange transactions, the Company's balance sheet will reflect: Approximately $68 million of its existing Convertible Notes due December 2028; Approximately $119 million of its existing Convertible Notes due April 2030; and Approximately $155 million of its newly issued Senior Secured Notes due December 2030 Jefferies LLC acted as exclusive financial advisor and placement agent to the Company in connection with the transaction, and Gibson, Dunn & Crutcher LLP served as legal advisor to the Company. Cautionary Statement Regarding Forward-looking Statements This press release, as well as other statements we make, contain "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambition," "goal," "target," "think," "should," "could," "would," "will," "hope," "see," "likely," and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as statements about future business growth, the ability to manage liquidity, and the ability to continue execution of the Company's strategic plan. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including changes as a result of market conditions and the risk that the Offering will not be consummated. These forward-looking statements are based upon assumptions and estimates that, while considered reasonable by Stem and its management, depend upon inherently uncertain factors and risks that may cause actual results to differ materially from current expectations, including the additional risks and uncertainties set forth in Stem's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date hereof, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. About Stem Stem (NYSE: STEM) is a global leader in AI-enabled software and services that enable its customers to plan, deploy, and operate clean energy assets. The company offers a complete set of solutions that transform how solar and energy storage projects are developed, built, and operated, including an integrated suite of software and edge products, and full lifecycle services from a team of leading experts. More than 16,000 global customers rely on Stem to maximize the value of their clean energy projects and portfolios. Learn more at Source: Stem, Inc.
Business Wire
33 minutes ago
- Business Wire
XTIUM Launches Direct Operations in Europe, Advancing Global MSP Leadership Backed by Decades of Experience
ROTTERDAM, Netherlands & NEW YORK--(BUSINESS WIRE)-- XTIUM, a next-generation Managed Services Provider (MSP) meeting the growing demands and challenges facing IT leaders, today announced the launch of its direct business operations across Europe under the XTIUM brand. Following the successful business combination of ATSG and Evolve IP earlier this year, the company is expanding its comprehensive suite of managed IT services to direct customers throughout the EMEA region. "By establishing direct operations in Europe, we're delivering on our promise to provide integrated, security-first managed services that enable organizations to focus on innovation and growth, regardless of their geographic location." Share The European expansion marks a significant milestone in XTIUM's global growth strategy, establishing Rotterdam as the company's EMEA headquarters. It enables direct customers across the Netherlands, Belgium, Germany, the UK, and other European markets to access XTIUM's full portfolio of advanced IT services, extending beyond traditional cloud communications. Transforming from Communications Provider to Global MSP With roots dating back to the founding of Mtel in Rotterdam in 1999 and its acquisition by Evolve IP in 2017, XTIUM's European presence is built on decades of trusted customer relationships and technical excellence. Today's launch evolves that foundation into a unified, full-stack MSP experience. European customers who previously received unified communications and contact center services from Evolve IP will now benefit from XTIUM's expanded service portfolio, which includes cybersecurity solutions and Desktop as a Service (DaaS), launching in 2025. This will be followed by Gartner-recognized network management services and managed help desk solutions in 2026. 'This demonstrates our commitment to serving multinational enterprise customers as a truly global MSP,' said Russ Reeder, President & CEO of XTIUM. 'By establishing direct operations in Europe, we're delivering on our promise to provide integrated, security-first managed services that enable organizations to focus on innovation and growth, regardless of their geographic location.' Meeting Growing Demand for Integrated IT Services Leon Schuurmans, Managing Director of XTIUM EMEA, will lead the European operations from the Rotterdam headquarters, which houses 35 dedicated professionals, today already serving over 100 direct customers ranging from 100 to 3,500 employees across key verticals, including healthcare, financial services, retail, and business services. 'Research shows that customers want a single provider for all of their services,' said Leon Schuurmans. 'What we see is that communication services and IT services are becoming more and more integrated, and we are now able to facilitate those complete requirements. This evolution from a communications provider to a comprehensive MSP allows us to deliver the unified technology solutions our European customers need to stay competitive.' Strengthening Global MSP Leadership With over $230 million in combined revenue and serving more than 950,000 end-users across 1,700 global customers, XTIUM's European expansion reinforces its position as one of the largest privately-owned global MSPs. The company's EMEA team, comprising approximately 70 professionals, will be strategically divided between dedicated XTIUM direct services and shared support functions, ensuring specialized expertise for each business line. For existing direct customers in Europe, services, pricing, and support remain unchanged, with expanded IT service capabilities scheduled to roll out throughout 2025 and 2026. With decades of combined expertise and operations across North America, Europe, and Asia, XTIUM continues to lead the next generation of managed IT services, blending global scale with local delivery. For more information, visit About XTIUM XTIUM, formed through the combination of ATSG and Evolve IP, provides a modern, security-first approach to the managed IT services experience. Leveraging AI innovations, enterprise-grade cybersecurity, virtual desktops, unified communications, and more, XTIUM serves as a trusted partner to help businesses mitigate risk, enhance operational efficiency, and scale with confidence. For more information, visit or connect on LinkedIn. All trademarks recognized.
Yahoo
33 minutes ago
- Yahoo
EU tech rules not included in U.S. trade talks, EU Commission says
By Foo Yun Chee and Bart H. Meijer BRUSSELS (Reuters) -The European Union on Monday pushed back against U.S. criticism of its landmark tech rules that many feared could be included in ongoing trade negotiations with the United States and subsequently watered down. Adopted recently, the Digital Markets Act (DMA) seeks to rein in the power of Alphabet, Amazon, Apple, Meta Platforms, Microsoft, China's ByteDance and The Digital Services Act (DSA) requires big online platforms to do more to tackle illegal and harmful content. Both legislations have come under fire from the U.S. administration which says it unfairly targets U.S. tech companies. "The legislations will not be changed. The DMA and the DSA are not on the table in the trade negotiations with the U.S.," spokesperson Thomas Regnier told a daily news conference. He said the EU would not brook any interference from foreign governments on how it enforces its landmark rules which come with hefty fines for violations. "We are not going to adjust the implementation of our legislation based on the actions of third countries. If we started to do that, then we would have to do it with numerous third countries," Regnier said. The EU handed out its first fines to Apple and Meta earlier this year, with both risking further daily fines if regulators find that they have yet to comply with the rules in the coming months. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
