Apple to Pay $500 Million<br />Settlement Over Slowed iPhones After months of negotiations, Apple has tentatively<br />agreed to a $500 million settlement to resolve dozens<br />of class action lawsuits against the company. If approved on April 3, all current<br />and former owners of products<br />in the iPhone 6 and 7 lineup will<br />be eligible to receive $25. The payout per iPhone owner could fluctuate in either<br />direction, depending on how many people file claims. Named class members will<br />receive $1,500 or $3,500,<br />and attorneys will receive<br />around $90 million. The lawsuits, filed between 2017 and 2018 and<br />later consolidated into one complaint, alleged that<br />Apple purposefully throttled older iPhones. Referred to as “Batterygate,” Apple later<br />admitted to using iOS to artificially limit<br />processor speeds on older iPhone batteries. The feature was intended to reduce stress<br />on the battery and prevent accidental shutdowns. However, Apple failed to disclose the feature’s<br />existence to customers, causing many people to<br />purchase new iPhones, as they thought their older<br />ones were simply slowing down from age.
