Apple to pay $490m to settle claims it misled investors over sales in China

Company denies that Tim Cook deceived investors when he said iPhone sales were strong weeks before revenue warning

Apple has agreed to pay $490m to settle a class-action lawsuit led by the UK’s Norfolk county council.

The class action alleged chief executive Tim Cook misled investors about a steep downturn in iPhone sales in China that culminated in a jarring revision to the company’s revenue forecast. Continue reading…
http://dlvr.it/T49q01