Apple settles federal class-action suit over CEO’s comments for $490 million

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Apple Friday settled a class-action lawsuit for $490 million. The suit alleged CEO Tim Cook made false statements in 2018 about iPhone sales in China that cost investors billions of dollars. Apple denied breaking securities laws and said the settlement was done to avoid further costly litigation. File Photo by Chris Kleponis/UPI | License Photo March 15 (UPI) -- Apple has agreed to pay $490 million to settle a class-action lawsuit that accused CEO Tim Cook of deliberately withholding pertinent information on sales that led to an investor loss of billions of dollars, according to a proposed settlement request filed...