Another day, another lawsuit. Apple Inc.’s board and top executives are responsible for billions of dollars in penalties, settlements, and other costs stemming from anticompetitive conduct, a shareholder alleges on behalf of the company, reports Bloomberg Law.
The directors and executives, including CEO Tim Cook, breached their fiduciary duties to Apple by allowing or furthering monopolistic conduct stretching back more than a decade, according to the retirement fund that brought the case, the article adds. The suit was filed Feb. 27 in the US District Court for the Northern District of California.
This isn’t the first case of its kind. Alphabet Inc. has faced significant legal action regarding anticompetitive behavior, culminating in a US$500 million shareholder settlement in 2025 regarding accusations that its anticompetitive practices caused reputational damage and financial cost. As part of this, a new, independent board-level “Risk & Compliance Committee” was established to oversee regulatory risks.
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