Apple's Stock Top Legal News Today: US iPhone Settlement and UK Encryption Controversies
Portfolio Pulse from Mohit Manghnani
Apple Inc. is facing significant legal developments. The US Court of Appeals for the 9th Circuit has approved payments for a class action lawsuit against Apple, alleging that the company intentionally reduced the performance of iPhones with older batteries. Apple agreed to pay between $310 million to $500 million in a settlement reached in March 2020. In the UK, Apple has expressed concerns over the Online Safety Bill, which mandates tech companies to provide backdoor access, potentially compromising encryption. Apple indicated a preference to withdraw services like FaceTime and iMessage from the UK rather than compromise their security.
August 16, 2023 | 10:53 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Apple is facing legal challenges in the US and UK. In the US, a court has approved payments for a class action lawsuit over iPhone performance. In the UK, Apple may withdraw services due to concerns over the Online Safety Bill.
The approval of the lawsuit payments in the US could lead to financial losses for Apple. The potential withdrawal of services in the UK due to the Online Safety Bill could impact Apple's operations and reputation in the region, potentially affecting the company's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100