Apple settles lawsuit with investors for $490 million, awaiting final approval from US court arbitrator. The class-action lawsuit accuses Apple of hiding information after the company announced on January 2, 2019, that sales for the previous quarter would be lower than expected due to poor iPhone sales, particularly in China. This led to a 10% decrease in stock price. Apple, in the settlement agreement, does not admit to the allegations but agrees to avoid further costs and time spent on litigation.
TLDR: Apple settles investor lawsuit for $490 million over allegations of hiding sales information, awaiting court approval.
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