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Norfolk County Council beats Apple in iPhone row
The local authority - and others - had accused the tech giant of misleading shareholders.
The class action alleged the tech giant's boss Tim Cook defrauded shareholders by covering up lower demand for iPhones in China. The lawsuit claimed that Apple's chief executive Tim Cook told investors on 1 November 2018 that there was "sales pressure" in some countries but he "would not put China in that category." Within that two-month window, reports emerged that Apple had told its top smartphone assemblers to "halt plans for additional production lines" for the recently released iPhone XR.
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