Executives Allegedly Cashed Out
During the class period, while Apple’s stock rode the high of its AI promises, Cook and other executives allegedly sold millions in shares:
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Tim Cook: 363,747 shares for $81.9 million
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Luca Maestri: 67,977 shares for $15.3 million
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Kevan Parekh: 7,319 shares for $1.4 million
The complaint accuses them of profiting while withholding key facts from the public.
Legal Ground and Broader Litigation Landscape
Tucker’s two-count complaint cites violations of Section 10(b) and Section 20(a) of the Securities Exchange Act. He seeks class certification for investors who bought Apple stock between June 10, 2024, and June 9, 2025, along with damages, attorney fees, and expert costs.
Tucker is represented by Jennifer Pafiti, Jeremy A. Lieberman, and J. Alexander Hood II of Pomerantz LLP. As of press time, counsel for Apple has not responded to requests for comment.
This isn’t Apple’s first tangle with litigation over its AI road map. In April and May, the company was hit with consumer protection lawsuits in all 50 states, accusing it of using AI promises as a bait-and-switch scheme to boost iPhone 16 sales.
