"Apple Settles $490 Million Lawsuit Over Tim Cook's China Sales Comments"

Apple has agreed to a $490 million settlement in a class-action lawsuit alleging CEO Tim Cook misled shareholders about iPhone demand in China, leading to a $9 billion revenue forecast cut in 2019. The settlement, subject to court approval, covers investors who bought Apple shares between Cook's comments and the revenue forecast. Despite denying liability, Apple settled to avoid litigation costs and distraction. The case, filed in California, was led by the Norfolk County Council as Administering Authority of the Norfolk Pension Fund.