Apple also committed to maintaining web pages with information about lithium-ion batteries and unexpected shutdowns, informing consumers of any substantial changes in phone performance due to iOS updates, and notifying them of battery service options when performance degrades significantly.
Additionally, the settlement requires co-chairs of the board’s disclosure committee to review earnings call transcripts and recommend necessary corrections or clarifications to the public.
Apple Slowed iPhone Derivative Deal : Related Legal Actions
Apple has also settled a related shareholder class action accusing the company of misleading investors about iPhone sales in China, agreeing to a $490 million deal. Judge Gonzalez Rogers preliminarily approved this settlement last month, with a final approval hearing set for September 17 in Oakland.
In a separate case, a different federal judge in California approved Apple’s $500 million settlement to resolve multidistrict litigation filed on behalf of iPhone users affected by the same updates in February 2023.
Representation and Case Information
The investors are represented by Craig W. Smith and Shane P. Sanders of Robbins LLP, and David C. Katz of WeissLaw LLP. Apple and its executives are represented by Alexander K. Talarides of Orrick Herrington & Sutcliffe LLP.
