The Shareholders Foundation announces that an investor in shares of Apple Inc. (NASDAQ:AAPL) filed a lawsuit against members of the board of directors of Apple Inc. over alleged breaches of fiduciary duties that caused damages to the company and NASDAQ:AAPL stockholders.
Investors who are current long-term stockholders in shares of Apple Inc. (NASDAQ:AAPL) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that that Apple Inc’s board of directors is responsible for participating in an alleged conspiracy to fix tech industry wages, and thereby exposing Apple Inc to billions in potential wage restitution. More specifically, the plaintiff claims that the defendants allowed Apple Inc to enter into allegedly illegal and secretive agreements with numerous other companies located in Silicon Valley to eliminate hiring competition and drive down employee wages and the discovery of these agreements has instigated several employee class action lawsuits and subjected Apple Inc to billions of dollars in potential restitution, penalties, and fines.
Apple Inc. reported that its Total Revenue rose from over $156.50 billion for the 52 weeks period that ended on Sept. 29, 2012 to over $170.91 billion for the 52 weeks period that ended on Sept. 28, 2013, while its Net Income for those respective time periods declined from over $41.73 billion to over $37.03 billion. Shares of Apple Inc. increased from $398.07 per share in June 2013 to as high as $570.09 per share in late December 2013.
On April 7, 2014, NASDAQ:AAPL shares closed at $523.47 per share.
Those who purchased shares of Apple Inc. (NASDAQ:AAPL) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com