Apple reaches $490 million settlement over China comments

New York (AFP) Mar 15, 2024

Apple has reached an out-of-court settlement to pay $490 million to shareholders who accused the iPhone titan of making misleading statements about its business in China in 2018. Shareholders criticized Apple executives, in particular CEO Tim Cook, for stating in November 2018 that the company's business remained buoyant in China, even though it was slowing down. The settlement, which wa