490M

Misleading talk about iPhone demand in China costs Apple $490M

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Tim Cook didn’t give investors the truth about iPhone demand in China in 2018 and it’s costing the company. Photo: Ed Hardy/Cult of Mac Apple reportedly settled a class action lawsuit that accused the company of hiding news of declining iPhone demand in China. It concerns comments made by CEO Tim Cook during an investor … Read more

Apple Agrees to Pay $490M to Settle Lawsuit Alleging That Tim Cook Defrauded Shareholders

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Apple has agreed to pay $490 million to settle a class action lawsuit alleging that Apple CEO Tim Cook defrauded shareholders by concealing falling demand for iPhones in China, according to Reuters, which cited a court filing today. The proposed settlement requires approval by U.S. District Judge Yvonne Gonzalez Rogers in California. On a November … Read more