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Apple settles $490 Million lawsuit alleging concealment of iPhone demand decline
March 15th, 2024 - 10:46 GMT
Osama Ali

Osama Ali

Apple settles $490 Million lawsuit alleging concealment of iPhone demand decline

ALBAWABA - In response to a class-action lawsuit, Apple and CEO Tim Cook have agreed a $490 million settlement. Cook was accused of inflating the demand for iPhones in China in 2018. During a November 2018 earnings call, Cook was accused by investors of inflating demand for Apple products. This led to a substantial decline in the company's price when it missed revenue guidance by up to $9 billion in ...
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