US EditionApple to pay $490 million to settle allegations that it misled investors about iPhone sales in China
- Apple settled a $490 million lawsuit alleging concealment of iPhone demand in China by CEO Tim Cook.
- Norfolk County Council Pension Fund is the lead plaintiff in the class-action lawsuit against Apple.
- Settlement agreement includes lawyers seeking up to 25% fees, hearing scheduled for April 30, 2024.
48 Articles
48 Articles
Apple to pay $490 million to settle allegations that it misled investors about iPhone sales in China
Apple has agreed to pay $490 million to settle a class-action lawsuit alleging CEO Tim Cook misled investors about a steep downturn in iPhone's sales in China that culminated in a jarring revision to the company's revenue forecast. The preliminary settlement filed Friday in Oakland, Californ...
Apple pagará 449,9 millones de euros para cerrar una demanda por las declaraciones de su CEO sobre China
La tecnológica Apple pagará 490 millones de dólares (449,9 milllones de euros) para cerrar el paso a una demanda colectiva interpuesta a raíz de unas declaraciones realizadas en 2018 por su consejero delegado, Tim Cook, a cuenta de las perspectivas de venta en China y que inflaron la cotización de la compañía. El pacto, presentado este viernes en un tribunal de distrito de Oakland (California), aún requiere de la aprobación de un magistrado, y s…
Some quotes from Tim Cook, Apple's CEO, at a conference with analysts in November 2018 were very expensive for the company. On the call, Cook confused investors by talking about the strength of iPhone demand in China. However, in January 2019, the price plummeted after an earnings warning due precisely to the weakness of the Chinese market. A group of investors filed a class action lawsuit and Apple has agreed to pay 490 million dollars (450 mil…
Apple settles federal class-action suit over CEO's comments for $490 million
Apple has agreed to pay $490 million to settle a class-action lawsuit that alleges CEO Tim Cook made false statements, according to a proposed settlement request filed in Oakland County, Calif., federal court.
Apple to pay $490 million to settle allegations that it misled investors about iPhone sales in China
By MICHAEL LIEDTKE AP Technology Writer Apple has agreed to pay $490 million to settle a class-action lawsuit alleging CEO Tim Cook misled investors about a steep downturn in iPhone’s sales in China. The slowdown in China sales culminated in a jarring revision to the company’s revenue forecast. The preliminary settlement filed in federal court Friday stems from a shareholder lawsuit focused on how Apple relayed information about how iPhone model…
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