Apple: $490 Million Settlement

Apple has supposedly agreed to an out of court settlement of about $490 million USD with its shareholders over a 2018 operational decline in China. The report claims that the multinational technology company issued false statements about the state of their business affairs in the region.

The report further mentions that Apple’s executives, including Tim Cook (CEO), underplayed the challenges the business was facing at the time. This incident led to a class action lawsuit spearheaded by Norfolk County Council. Details of the settlement have not been publicly disclosed as the agreement is subject to a court validation in the second quarter of the year.