Apple’s $490M securities fraud settlement receives court approval

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

Investors accused CEO Tim Cook of making false statements about the company’s operations in China, causing Apple shares 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 in the U.S. District Court for the Northern District of California. On Tuesday, Rogers gave her final approval to the settlement, …