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Norfolk pensioners taking Apple and Tim Cook to court over 'misleading iPhone claims'

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Apple.Over the last two years, the small local authority has accused Apple of giving it "false and misleading" information about iPhone sales which led to its pension fund losing more than $1 million (£740k).A California court has now decided that Norfolk council's case is big enough that it can be considered a 'class action' lawsuit.It could see Apple CEO Tim Cook landed in court and made to answer to the people of Norfolk as well as other Apple investors in front of a California judge.

Norfolk County Council operates the £3.8bn Norfolk Pension Fund, which holds a number of shares in Apple.During a 2018 call with investors and analysts, CEO Tim Cook reportedly said that the firm was not facing sales pressure in China.

However, within days the tech firm revealed it was cutting production of the iPhone XR and the following January, Apple's revenue forecast fell by around $9bn, which Cook blamed on the pressure faced by the Chinese economy as the result of a US-China trade war.

Norfolk Council has argued that Apple would have had knowledge of the issue in November 2018 when the call was made. The Californian judge, Judge Rogers, said in a 23-page decision that although Tim Cook may not have known the specifics of issues in China, it "strains credulity" that he wouldn't have known about the impact of trade issues on Apple.

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