Apple settles lawsuit for $490 million that alleged CEO Tim Cook of misleading investors over iPhone demand in China . Cook made a misleading statement about iPhone sales in China in 2018, causing a one-day decline of 10% in the stock.
This marked the first time since 2007 that Apple had to lower its revenue guidance. The lawsuit accused Cook of bamboozling investors with his comments.
Apple Lawsuit Settlement Tim Cook Misleading Statement Iphone Sales China Investors
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