Apple settles lawsuit over misleading Tim Cook iPhone statement for $490 million

made a misleading statement about iPhone sales in China in 2018. Eventually, when the real situation involving iPhone sales in the country was revealed, the stock had a one-day decline of 10%. Cook's original comment during an investor conference call in November 2018 said that sales of the latest iPhone models, released that past September, were off to a good start in China.for the just-completed fiscal quarter, and most of the shortfall was taking place in China.

Apple settles lawsuit for $490 million that alleged CEO Tim Cook of misleading investors over iPhone demand in China Apple originally denied that Cook had bamboozled investors with his comments but it was growing weary of fighting the allegations for more than four years. As a result, the company decided to settle the case. Additional pressure was placed on Apple to settle after U.S. District Judge Yvonne Gonzalez Rogers,Judge Gonzalez Rogers will now oversee a hearing on April 30 to discuss the settlement and she will be asked to sign off on it.

Since Cook's warning that led to the cratering of Apple's shares, the stock has more than quadrupled adding $2 trillion to investor's wallets.A discussion is a place, where people can voice their opinion, no matter if it is positive, neutral or negative. However, when posting, one must stay true to the topic, and not just share some random thoughts, which are not directly related to the matter.Multiple accounts - one person can have only one accountModeration is done by humans.

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