Apple will be the next company we file a lawsuit against.
Let me start off by saying that Apple is a great company and we really enjoy using their products. With that being said, obviously something happened to make us go forward and take legal action against the company.
As I’ve stated in a previous post, until Dec. 2011 the only thing we were pretty much able to do with our funds was purchase stock. We couldn’t gain access to our funds any other way for personal use.
In the summer of 2010 we purchased a significant amount of Apple stock for $259.28 a share that would make us one of the largest individual share holders. We were happy to see the stock rise over the years and contemplated selling the stock a couple of times until the dividend was announced in March 2012.
We were very happy to hear that a dividend was going to be issued. We thought this would be a sure fire way for us to get access to some amount of funds. The statement from apple was that the company would begin paying $2.65 a share quarterly dividend beginning in July.
A representative for us contacted Apple in July, August and September asking about the status of our dividend check. Our representative was told that they hadn’t gotten to our last name yet, that it was being done in alphabetical order.
In the latter part of September when the stock price reached $702 we really thought hard about selling at that point. However, we still had no access to our funds and we didn’t know when the FBI would have the issue resolved. We thought that our dividend from Apple might be the only significant funds we have access to for a while. We held onto the stock for that reason alone, our dividend.
Our representative continued to contact Apple every month to inquire about the status of our dividend check. We were able to find out that our last name had already been well passed and still no dividend check. We thought of two possible scenarios, there was an issue with the mail or the dividend check was never issued.
I’ve documented on this blog about the problems we’ve had with the USPS, so this wouldn’t be a shock to us. However, we were able to find out that it was the latter of the two scenarios. Nobody at Apple could give us a reason as to why the dividend check was never issued. They tried to issue it once again and nothing.
In December 2012, we were able to have Federal agents go into Apple and find out what the problem was. Within a short period of time they were able to find out that the “problem” was the result of an email they had received.
Sometime after March 2012, Apple was sent an email from the Government Agency that’s been harassing us. The email was opened and was asking for account verification in regards to our shares of stock. There was an attachment to this email that was also opened. This attachment was the cause of our dividend not being paid.
Something was now attached to our account that prevented Apple from paying our dividend in their normal format. At this point, Tim Cook was then contacted by our Federal Attorney as well as the FBI.
Tim Cook was brought up to speed on what was going on and what we’ve been through over the last few years. He said he’d do what he could to help. Our Attorney told him that we would gladly accept some new apple products to buy his company some time until the dividend problem was resolved. Tim cook had no problem with this and told our attorney for us to make a list of what we wanted and he’d take care of it.
We made our list and it was sent to Tim Cook. He didn’t have a problem with anything on the list and said he’d also include a $20,000 gift card for any other products we might want. This order was put in about a week before Christmas. He did tell us that he didn’t think this order would be filled by Christmas and that it would probably be the end of the month or beginning of January. We completely understood and had no problem with it. All we requested was that the order be sent to our local Apple store and we would pick it up once it was delivered.
Time went by and we hadn’t heard anything. In January our attorney contacted Tim Cook to see where we were on the order, he said that it was going to take a little longer on the computers that we requested. We understood, but questioned why the rest of the order couldn’t be fulfilled. We really weren’t given an answer to that question.
Later in January, Tim Cook was contacted again. He was going to be in Washington D.C. for the President’s inauguration so he’d be able to meet personally with our attorney. Tim Cook really couldn’t explain why the order hadn’t been delivered. In front of our Attorney, he takes out his ipad and orders us a $50,000 Apple gift card. He told our attorney that it could take up to 3 weeks for it to get to our local store.
We waited the 3 weeks and nothing. Tim Cook was contacted to check on the status of the order. He could no longer find the order in their system, it had been taken out somehow. He was also able to see our first initial order had also been taken out of the system. He told our attorney that he was conducting an emergency meeting over that weekend to find out what was going on and who took the orders out of the system. Our attorney wasn’t really given any information about what happened as a result of that meeting.
We were getting frustrated with this whole process and Tim Cook was told that if he didn’t get something done soon that we’d sell off our stock and pursue legal action against Apple. He was very clear that he didn’t want that to happen. He told our Attorney that he’d be back on the east coast sometime the following month, which would have been April. He said he’d stop in Kentucky to meet with us and would be bringing us cash and a gift card.
Approaching the end of April, our Attorney contacts Tim Cook as to why he hasn’t called to meet us in Kentucky. Tim Cook “claims” a miscommunication occurred and that it would be sometime at the end of May when he’d be in the area. At that point, we had enough of the excuses. Tim Cook was told that he had two options that could buy him more time to pay us our dividend and the deadline would be May 3rd by 5:00pm est.
His first option was to get us cash, gift card, or product. If he wasn’t able to do that in our time frame, then he had another option that he could do from his current location. We wanted him to issue a public apology to our family for what had happened. In that apology it would describe what took place, who was behind it and that they were doing everything they could to fix the problem and make us happy. Not only did we want this apology put out in a statement to the media, we also wanted it on the apple website for 48 hrs.
Tim Cook said that issuing a public apology would make the Company look bad. Really?
What do we have here? An Apology, but not to us.
Tim Cook apologizes to China’s Apple consumers on Apple’s Chinese website.
So let me get this straight, Tim Cook can issue a public apology to China’s apple consumers, but NOT to one of its largest individual shareholders? Sorry Tim Cook, not buying it. You’re full of Shit!!!
We gave Tim Cook until 5:00 p.m. est. on May 3rd to come through with one of those options. He failed to do so. We found out the weekend of the 4th, that Tim Cook had been to the east coast after all during the last weekend of April. He spent that Friday and Saturday at Duke University being a part of the institution’s “Real Conversations with Real Leaders” sessions.
I guess it was too much for Mr. Tim Cook to stop in Kentucky either on the way to or back from Duke to meet with one of his company’s largest individual shareholders huh? After all, it was someone from his company who opened an email that screwed up the ability for us to get our dividend check.
After finding out about Tim Cook’s visit to Duke and his public apology to China’s apple consumers, we told our Attorney there was no need to continue communications with Tim Cook and that we were done with Apple.
We gave Tim Cook the chance to right a wrong. Instead, he strung us along just as other CEO’s have done that we’ve dealt with.
Please understand, we aren’t “sue happy” people. We give these companies and their CEO several opportunities to rectify the problem. I think part of the problem is, WE KNOW that the Government Agency that’s been harassing us has been behind every single company we’ve went to court with. We want to work with these companies to correct the problem, not take legal action. We are hopeful that maybe ONE of these companies will stand up for itself and stand with us.
As of now, a lawsuit against Apple hasn’t been filed. Motions were submitted this past week in Federal Court to force Apple to pay us our dividend owed, which is several millions right now and to force the sale of our Apple stock. Because of our lack of access to our investment accounts, we will be asking for our dividend owed as well as our sale of stock to be paid in cash.
Once a decision has been made on our motions, we will then proceed with a Federal lawsuit against Apple.
We never wanted this to get to the point where we file a lawsuit against Apple. We love all of our Apple products and think it’s a great company. We just wanted Tim Cook to take care of the problem like he said he would.
This is on Tim Cook for letting it go this far.