Apple to pay Norfolk and others £385m after five-year legal battle

The lawsuit revolved around remarks made by Tim Cook during an investor briefing in November 2018.

clock • 2 min read
Norfolk County Council secures £385m payout from Apple after five-year legal battle
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Norfolk County Council secures £385m payout from Apple after five-year legal battle

Tech giant Apple has conceded defeat to Norfolk County Council in a legal battle, agreeing to a staggering settlement of $490 million (£385 million) in response to allegations of shareholder deception.

The lawsuit, spearheaded by Norfolk Council, accused Apple CEO Tim Cook of misleading investors by concealing dwindling iPhone demand in China, resulting in financial losses for shareholders. Th...

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