Small talk, big price tag. $490 million big. Reuters reports that Apple is settling a shareholder lawsuit about the company reversing course after some 2018 comments by CEO Tim Cook about sales projections for China.
Apple said sales in the country were fine before it turned out that they weren’t. The stock price went down by 10% the next day, and investors lost some money — $74 billion of the company’s market value vanished in the process.
This is a developing story and will be updated.