Julie Steinberg, Bloomberg Law:
A proposed class settlement calling for Apple Inc. to pay up to $500 million to resolve allegations it throttled the battery performance of older iPhones should get tentative approval, plaintiffs told a federal trial court in California.
Apple agreed to pay at least $310 million, up to a maximum settlement of $500 million, with plaintiffs calling it “an excellent recovery,” according to Feb. 28 court filings.
This follows a €25 million fine issued last month by France’s competition bureau. In that case, at least, lawyers weren’t skimming 30% off the top and pocketing nearly $100 million.