In the UK, a lawsuit was filed against Apple because of Tim Cook's statements about the demand for the iPhone in China. A group of shareholders led by Norfolk County Council in the UK has successfully turned this into a collective.

Once the lawsuit is class-action, affected shareholders can join in, potentially increasing the risk Apple faces. Norfolk County Council is the governing body of the Norfolk Pension Fund.

The lawsuit concerns comments Cook made during a November 2018 earnings call. Then Tim Cook said that Apple was facing a decline in sales in some markets. However, he added the following: "I wouldn't put China in that category."

Later, in 2019, Apple lowered its revenue forecast due to a notable decline in iPhone sales in China. Shareholders argue that the revenue forecast came too late and that Apple should have voiced the problem, accusing it of hiding the fact of falling sales.

It is worth noting that last year iPhone sales in China increased markedly.

bbabo.Net