Apple Agrees to $490m Settlement with Norfolk County Council for iPhone Demand Cover-up!
Norfolk, Virginia – Norfolk County Council has reached a settlement agreement with Apple, with the tech giant agreeing to pay $490 million to resolve a lawsuit led by the council. The lawsuit alleged that Apple’s CEO, Tim Cook, misled shareholders by concealing diminished demand for iPhones in China, leading to financial losses for the Norfolk Pension Fund administered by the council. The class action lawsuit, representing a group of claimants, focused on statements made by …