March 15 (Reuters) - Apple ( AAPL ) has reached a $490

million settlement to resolve a class-action lawsuit that

alleged Chief Executive Tim Cook defrauded shareholders by

concealing falling demand for iPhones in China.

A preliminary settlement was filed on Friday with the U.S.

District Court in Oakland, California, and requires a judge's

approval.

The lawsuit stemmed from Cook's comment on a Nov. 1, 2018,

analyst call that although Apple ( AAPL ) faced sales pressure in markets

such as Brazil, India, Russia and Turkey, where currencies had

weakened, "I would not put China in that category."

On Jan. 2, 2019, Apple ( AAPL ) unexpectedly cut its quarterly

revenue forecast by up to $9 billion, blaming U.S.-China trade

tensions. Its shares fell 10% the next day, wiping out about $74

billion of market value.

Apple ( AAPL ) and its lawyers did not immediately respond to

requests for comment.