Apple’s $490 Million Securities Fraud Settlement Approved (1)

Apple Inc. received final approval from a federal court for a $490 million settlement in a securities fraud class action alleging misleading statements about the technology company’s sales prospects.

Investors accused Chief Executive Officer Tim Cook of making false statements about the company’s business in China that caused Apple stock to trade at artificially inflated prices. Apple settled the case but denied liability.

On June 6, Judge Yvonne Gonzalez Rogers granted preliminary approval to the third-largest securities class-action recovery in the US District Court for the Northern District of California. On Tuesday, Rogers gave her final approval to the settlement, ...