Apple Inc. inflated its stock price by implementing a commission for app transactions outside its App Store despite legal risks and by promoting artificial intelligence features prematurely, an investor alleges.
Disclosures and reporting about these issues caused a series of stock-price declines, according to the shareholder, a pension fund. The fund filed its proposed class action July 25 in the US District Court for the Northern District of California.
Apple’s 27% commission prompted Epic Games Inc. to ask a court to enforce an injunction it had obtained in an antitrust suit over purchases made in third-party applications, the Coral Springs, ...
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