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 in Oakland County, Calif., federal court.
A group of investors claimed in the lawsuit that Cook made false statements that caused Apple stock to trade at artificially high prices and they alleged it was a violation of securities laws.