Apple, Investors Reach $490 Million Settlement in Fraud Case

Apple reached a $490 million settlement of a class-action lawsuit brought by a group of investors who accused Chief Executive Officer Tim Cook of misleading them in 2018 about the company's sales prospects. From a report: Cook made false statements about the company's business in China that caused Apple stock to trade at artificially inflated prices, the investors said in their complaint, which alleged violation of securities laws. Lawyers disclosed the proposed settlement in a request for judicial approval filed Friday in federal court in Oakland, California. The settlement comes as Apple continues to face headwinds in China, where iPhone sales fell by a surprising 24% over the first six weeks of this year, according to independent research released earlier this month. Attorneys for the investors described the settlement as the third-largest securities class-action recovery in the district's history.

its just

[ACForever]

apple being apple again

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[LazarusQLong]

well... I can't what to hear Trumpian types saying that Apple is evil, all the while arguing that when Trump and Co. inflated his property values in order to get better rates on loans and such, it is 'just good business'

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[dgatwood]

well... I can't what to hear Trumpian types saying that Apple is evil, all the while arguing that when Trump and Co. inflated his property values in order to get better rates on loans and such, it is 'just good business'

The whole Apple suit was dubious at best. When a model first comes out, sales are always good because of pent-up demand. So it is entirely possible that what he said in November was correct, but that sales in China soured after the latest data they had up to that point. When you're trying to predict the future, there's a chance that things change and you get it wrong.

But property values don't work that way. They're deliberately conservative, and tend to base their estimates on how much money similar pro

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[LazarusQLong]

the courts have sorted out the Trump case, the issue most recently was what to penalize him for due to the guilty finding. Of course, there will most likely be appeals, and we shall have to see how that unfolds where they are actually filed... right now though it seems to me that Mr. Trump is having an issue in raising the cash he needs to post bond for the appeal of the over $300million fine that the court has saddled him with... Apple, yeah, that is a moving target, China can change their mind in a heart