Saturday 16 March 2024

Two fight in court and lawyer wins

 The only person who wins in legal tangle is lawyers.

Apple to pay $490 million to settle allegations that it misled investors about iPhone sales in China.

Apple vehemently denied Cook deceived investors about the iPhone’s sales in China between early November and early January. The Cupertino, California, company maintained that stance in the settlement documents, but said it decided to make the payment after more than four years of legal wrangling to avoid an “overly burdensome, expensive, and distracting” hassle.

Thousands of shareholders who bought Apple stock in late 2018 could be eligible for a piece of the settlement, which will be distributed from of a pool that will be less than $490 million after lawyers involved in the case are paid. The attorneys plan to seek up to one-fourth, or about $122 million, of the settlement.

Shawn Williams, a partner at Robbins Geller Rudman & Dowd representing the shareholders, called the settlement an "outstanding result" for the class.

Why Outstanding result:

Lawyers for the shareholders may seek fees of up to 25% of the settlement amount.

The legal fraternity will advise :

Focus on what you got and not on what we got?

And

Ensure for every small / negligent issues please go to Court?

You Fight We Win.

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