J
Apple settles class-action shareholder lawsuit for $490 million.
The iPhone maker was accused of defrauding shareholders when it cut its quarterly revenue forecast by up to $9 billion in 2019 due to US-China trade tensions. That announcement literally decimated its share price, just a couple of months after CEO Tim Cook declined to put China in the same category as other emerging markets where Apple faced sales pressure.
Reuters notes that the settlement, which covers any investors who bought shares in those two months, amounts to under two days of profit for Apple.
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
Loading comments
Getting the conversation ready...
Most Popular
Most Popular
- Our long national sunscreen nightmare is almost over
- Kaleidescape’s movie player blows streaming, and your wallet, away
- Barret Zoph is out at OpenAI again after just five months
- Midjourney goes from generating cat images to full-body ultrasound scans
- Hue’s wired wall modules bring non-smart lights into its ecosystem
