A California federal judge has approved Apple’s non-monetary settlement in a derivative-shareholder lawsuit over claims that it secretly slowed iPhones. The settlement also awards counsel $6 million in attorney fees and expenses, following revisions to the proposal that were initially rejected for being overly broad.
Judge’s Approval and Settlement Details
U.S. District Judge Yvonne Gonzalez Rogers, during a brief hearing in Oakland, confirmed she would grant final approval for the settlement. The plaintiffs will receive $5,000 incentive awards, while Apple and its executives have committed to implementing “policy, corporate governance and oversight reforms” for at least four years to enhance transparency concerning iPhone updates.
Judge Gonzalez Rogers acknowledged that the case, filed in 2019, has been a long-standing one. She reviewed the settlement papers meticulously and found the counsel’s work hours and rates reasonable, indicating she would issue an order approving the settlement soon.
Initial Rejection and Revised Settlement
Earlier in April, Judge Gonzalez Rogers had declined to approve the initial settlement due to its overbroad release of claims, which included any claims that “relate” to the case. She criticized this language as too expansive, suggesting it could encompass unrelated issues, and refused to sign off on the agreement.
