Apple Settles $490 Million Lawsuit Alleging Tim Cook Concealed iPhone Demand Drop

Saturday, 16 March 2024, 02:18
Apple has reached a $490 million settlement in a lawsuit alleging Tim Cook defrauded shareholders by concealing a fall in iPhone demand. This legal dispute emerged over Cook's comments regarding China sales. The settlement marks a significant resolution to the allegations against Apple and Cook, impacting their financial standing.
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Apple Settles $490 Million Lawsuit Alleging Tim Cook Concealed iPhone Demand Drop

Apple Settles $490 Million Lawsuit

Apple has agreed to a $490 million settlement following a lawsuit accusing CEO Tim Cook of concealing a decline in iPhone demand.

CEO Cook's China Sales Comments

The legal battle stemmed from Cook's statements related to sales in China, leading to shareholder allegations of deception.

The settlement with a substantial financial impact serves as a resolution to the controversy.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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