Apple fails to end lawsuit over CEO’s China sales comment

US district judge Yvonne Gonzalez Rogers’ decision clears the way for shareholders led by a British pension fund to sue over a one-day plunge that wiped out US$74bil (RM345.7bil) of Apple’s market value.

NEW YORK: A US judge has rejected Apple’s bid to throw out a class-action lawsuit that accused chief executive officer Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China.

US district judge Yvonne Gonzalez Rogers’ decision late Monday night clears the way for shareholders led by a British pension fund to sue over a one-day plunge that wiped out US$74bil (RM345.7bil) of Apple’s market value.