Apple Board, Executives Sued Over ‘Anticompetitive Playbook’

Apple Inc.'s board and top executives are responsible for billions of dollars in penalties, settlements, and other costs stemming from anticompetitive conduct, a shareholder alleges on behalf of the company.

The directors and executives, including CEO Tim Cook, breached their fiduciary duties to Apple by allowing or furthering monopolistic conduct stretching back more than a decade, according to the retirement fund that brought the case. The derivative suit was filed Feb. 27 in the US District Court for the Northern District of California.

A similar suit against Alphabet Inc.'s leaders ended in October with a $500 million settlement.

Apple’s leaders ...