Apple Settles Family Sharing Class Action Lawsuit For $25M: Here's How To Claim Your Share
Portfolio Pulse from Rounak Jain
Apple Inc. has agreed to a $25 million settlement in a class action lawsuit regarding its Family Sharing feature. The lawsuit, filed in 2019, claimed Apple misrepresented how app subscriptions worked with Family Sharing. Users who purchased an app subscription between June 21, 2015, and January 30, 2019, and shared it with at least one family member are eligible to claim up to $50. The deadline to file a claim is March 1, 2024, with $15 million allocated for users after attorney fees.
December 16, 2023 | 8:51 am
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Apple Inc. settles a class action lawsuit for $25 million over its Family Sharing feature, with eligible users able to claim compensation.
While the settlement of $25 million is a relatively small amount for a company of Apple's size, the news may slightly concern investors about potential future legal issues. However, the impact on the stock price is likely to be neutral in the short term as the settlement amount is not significant compared to Apple's overall financials, and the company has denied any wrongdoing.
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