Apple settles class action lawsuit against Cook and China, pays 490 million. Investors say Cook exceeded demand for Apple products in China during a November 2018 conference call following quarterly results.
Apple will pay $490 million to settle a class action suit accusing CEO Tim Cook of misleading investors in 2018 by exaggerating demand for iPhones in China. The CEO was accused of having exaggerated demand for iPhone in China in a conference call after quarterly results in November 2018. The case was settled out of court on Wednesday.