Here's How Canadian iPhone Owners Can Claim Their Share Of Apple 'Batterygate' Settlement
Portfolio Pulse from Benzinga Neuro
Apple Inc. is proceeding with the settlement for the 'Batterygate' issue, inviting Canadian iPhone owners of specific models to claim their share. The lawsuit, settled for $14.4 million, accused Apple of intentionally slowing down older iPhones. Eligible users can receive between CA$17.50 and CA$150. The settlement and improvements in battery life in newer models like the iPhone 15 series aim to restore consumer trust. Apple's stock experienced a slight decrease to $168.45.
April 09, 2024 | 6:19 am
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Apple Inc. settles 'Batterygate' lawsuit in Canada for $14.4 million, affecting specific iPhone models. The company aims to restore trust with improved battery life in newer models. AAPL stock saw a minor decrease to $168.45.
The settlement of the 'Batterygate' issue and the compensation to affected users are significant steps towards resolving a major controversy for Apple. However, the impact on the stock price is minimal, indicating that investors may have already anticipated this outcome or view it as a minor setback in the context of Apple's overall financial health. The mention of improved battery life in newer models could positively influence consumer perception, but its immediate impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100