Here's How To Get Up To $349 In Apple's iPhone 7 'Loop Disease' Class Action Lawsuit Settlement
Portfolio Pulse from Rounak Jain
Apple Inc. (AAPL) has agreed to a $35 million settlement for the iPhone 7 'Loop Disease' class action lawsuit. Eligible U.S. residents who owned an iPhone 7 or 7 Plus between Sept. 16, 2016, and Jan. 3, 2023, and experienced specific audio issues may claim between $50 to $349. Claims must be filed by Jun. 3, 2024, and claimants must have received a notice to be eligible.
January 18, 2024 | 11:47 am
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Apple Inc. has settled a class action lawsuit regarding the iPhone 7 'Loop Disease' for $35 million. Eligible users experiencing audio issues with their iPhone 7 or 7 Plus can claim compensation.
The settlement of the lawsuit is likely to have a negative short-term impact on AAPL's stock price due to the financial payout and potential negative publicity. However, the impact may be mitigated by the company's large cash reserves and the fact that the settlement amount is relatively small compared to Apple's overall financials.
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