Apple Agrees to Pay $490M to Settle Lawsuit Alleging That Tim Cook Defrauded Shareholders

[Plutonius]

lots of lawsuits involving Apple over like the last 4 years.

there goes that sneaky clean image.

It's more like Apple has deep pockets to pick .

 

[GizmoDVD]

I hope Apple doesn't go Chapter 11 over this

 

[klasma]

Isn't the $490m paid, essentially going to come out of shareholder value again?

No. Stock value represents the expectation of the sum of all future dividends, not current company capital.

 

[nfl46]

lol. Dayum. It’s amazing how omitting a few words can cause a half billion fine. Whew. CEO of a company that size isn’t for the weak.

 

[TimB21]

I am pretty sure that if my actions lost my employer nearly half a billion dollars I would be fired.

I'm pretty sure that you're a less significant contributor than Tim Cook.

 

[klasma]

I am pretty sure that if my actions lost my employer nearly half a billion dollars I would be fired.

That’s only because you don’t gain your company billions of profit the rest of the time.

 

[Kimchi_Cowboy]

That’s only because you don’t gain your company billions of profit the rest of the time.

Neither does Tim.

 

[now i see it]

Another week, another half billion dollar settlement. Yawn

 

[klasma]

So this is why the iPad Pro has been delayed… price increase of $490m / no. of IPP to be sold.

That would be a price increase of $57.65 per unit, by my math. Barely worth talking about.

 

[scrapesleon]

They already wasted 10 billion on a car that will never see the light of day they’ll be fine

 

[klasma]

Neither does Tim.

The board probably sees it that way.

 

[Macbookey]

Cook has to go, he is destroying Apple.

So that we can usher in the Jeff Williams era sooner? A man with the persona equivalent to wet cardboard. A hard pass on that.

 

[uuee6543]

Now for all the people that keep yelling Apple should quit its business in the EU. Guess what would happen to Tim and all the Apple staff when the shareholders loose 30% of their money …

While EUROPE does account for 30% of their revenue, that includes ALL of Middle East, non EU countries such as UK, Norway, Switzerland etc, Turkey and so on. I wouldn’t be surprised if EU accounted for less than 15pc since Android is considerably more popular in European Union than iOS, with Android phones being sometimes as much as 10x as popular as iPhones.

 

[fhall1]

I really don't get this.....besides the lawyers, who always win...how does this benefit me as a shareholder back in 2018-19 (and still am one)?

 

[coolfactor]

Cook has to go, he is destroying Apple.

Is that your final verdict?

You realize this was from FIVE YEARS ago, right? Apple is very strong and profitable. Shareholders are just _____ ______ (you fill in the blanks) when they can't get unlimited earnings from Apple's hard work year after year. Now if shareholders actually had to earn (sow) what they reap, that would change things in a hurry.

I wish Apple would go private to eliminate this nonsense.

 

[coolfactor]

Shouldn't Tim pay this out of his pocket?

Tim's not responsible for the emotion-driven decisions of stock holders. He shouldn't be held responsible for any drastic fluctuations. People are responsible for their own decisions. In the stock market, isn't the "long road" the better play?

 

[PlayUltimate]

Jobs got alot of things right. Naming Tim Cook as his heir apparent wasn't one of them.

Depends on how you measure Tim Cook's performance. . . in the year ending 2011, total sales was $100B. Most recent revenue figures show sales of $385.7B.

Revenue Growth

 

[dannyyankou]

It was cheaper to settle.

Even though I think Apple did no wrongdoing, it's hard to imagine they'd spend more than half a billion on legal fees right? I also wonder if they're afraid discovery would reveal anything that could negatively impact their reputation, even if it's legal.

 

[boast]

I bet everyone would have a different tune if this was Elon instead.

 

[ItchyRat2160]

How long do we give Tim Cook? It seems like he's taking Apple through some rough patches lately... declining demand in china has been clear for a while now, cancelled Apple Car, cancelled Mini-LED Watch, the Watch patent debacle, NO iPads all 2023, there just seems to be a lot not going well right now. How long are they going to keep him for?

 

[SpotOnT]

How much money is Apple hemorrhaging on average daily due to legal issues?

When your big, everyone figures they can get a piece of you.

Apple isn’t spending more money on legal fees/fines than any of the other ultra large companies.

 

[SpotOnT]

I am pretty sure that if my actions lost my employer nearly half a billion dollars I would be fired.

Different rules for those at the top. Always is.

 

[boswald]

I love Apple products, but this kind of thing looks bad. What’s going on over there? It seems like a weekly thing now.

 

[Manzanito]

Apple is behaving like a spoiled kid lately, and all that, but…

Cook is to blame for not having a cristal ball or something?

 

[SpotOnT]

Jobs got alot of things right. Naming Tim Cook as his heir apparent wasn't one of them.

Who should be running Apple in your view?

I really don’t get all the Tim Cook hate.