3
Apple, Investors Reach $490 Million Settlement in Fraud Case - Slashdot
source link: https://yro.slashdot.org/story/24/03/15/1823247/apple-investors-reach-490-million-settlement-in-fraud-case
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Apple, Investors Reach $490 Million Settlement in Fraud Case
Slashdot is powered by your submissions, so send in your scoop
binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe offtopicflamebaittrollredundantoverrated insightfulinterestinginformativefunnyunderrated descriptive typodupeerror
Solve real business challenges on Google Cloud and run workloads for free. For Slashdot users: Get $300 in free credits to fully explore Google Cloud. Get started for free today. Check out the new Slashdot job board to browse remote jobs or jobs in your area.
×
Apple reached a $490 million settlement of a class-action lawsuit brought by a group of investors who accused Chief Executive Officer Tim Cook of misleading them in 2018 about the company's sales prospects. From a report: Cook made false statements about the company's business in China that caused Apple stock to trade at artificially inflated prices, the investors said in their complaint, which alleged violation of securities laws. Lawyers disclosed the proposed settlement in a request for judicial approval filed Friday in federal court in Oakland, California. The settlement comes as Apple continues to face headwinds in China, where iPhone sales fell by a surprising 24% over the first six weeks of this year, according to independent research released earlier this month. Attorneys for the investors described the settlement as the third-largest securities class-action recovery in the district's history.
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK