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Apple -4%, facing consumer protection probe - Axios

Jul. 23, 2020 1:54 PM ETApple Inc. (AAPL)AAPLBy: Brandy Betz, SA News Editor112 Comments
  • Multiple states are investigating Apple (NASDAQ:AAPL) for deceiving customers, according to the Tech Transparency Project via Axios.
  • A document obtained through a public records request says the Texas AG's Consumer Protection Division launched the investigation "for enforcement purposes."
  • Key quote: "If violations are uncovered, CPD will initiate enforcement proceedings. Accordingly, the OAG anticipates litigation in this matter."
  • It isn't clear what specific practices are targeted in the investigations.
  • Apple is currently facing antitrust investigations from U.S. House lawmakers and the European Union.
  • Apple shares are down 3.9% to $373.91.
  • Earlier today, Goldman told investors to avoid Apple shares, noting a price tag of $299.

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