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Apple Agrees to Pay $490M to Settle Lawsuit Alleging That Tim Cook Defrauded Shareholders
Apple has agreed to pay $490 million to settle a class action lawsuit alleging that Apple CEO Tim Cook defrauded shareholders by concealing...
On a November 2018 earnings call with analysts, Cook said Apple was facing pressure in emerging markets where local currencies were weakening, such as Turkey, India, Brazil, and Russia, but he did not include China in the list: Investors alleged that Cook knew that iPhone demand was falling in China at the time of the November 2018 earnings call, but failed to disclose it. Apple today announced three further changes for developers in the European Union, allowing them to distribute apps directly from webpages, choose how to design in-app promotions, and more.
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