Inven Sense is a partner Apple Lossless Audio CODEC (ALAC), which provides the sensors implemented in the iDevices sold worldwide, and its investors are suing it because of a contract concluded with Apple Lossless Audio CODEC (ALAC),. InvenSense's shareholders accuse the company of defrauding them by hiding the true obligations it assumed when concluding at least one contract with Apple and Samsung.
Inven Sense became Apple partner right before launch iPhone 6 si 6 iPhone Plus, but it is not known since when he has been a partner of Samsung, so in this situation the collaboration could be longer. Its shareholders claim that Alan Krock, the company's CEO, provided misleading information when he provided details about the company's financial performance between July and December 2014.
Instead of revealing the true condition of the company and its prospects, defendants hid those facts from investors and chose to issue strong guidance and paint a picture of a bright future with a new mega-customer.
InvenSense produces accelerometers and gyroscopes for iPhone 6 si 6 iPhone Plus, the contract with Apple should be a profitable one, but it seems that this is not true. Based on the information according to which Apple would be InvenSense's partner, its shareholders increased their stock portfolio, while the management team sold their shares generating over 5.3 million dollars with each sale.
What result this process will have is difficult to know, but it is clear that neither Apple nor Samsung are guilty of its existence.
