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Apple pays USD 500 mln to settle California class action lawsuit for slowing iPhones

2020-03-03 09:16:00| Telecompaper Headlines

(Telecompaper) Apple will pay up to USD 500 million to settle a case in the US, where consumers accused the company in a class action lawsuit of intentionally slowing down their older iPhones, Reuters reported. The preliminary settlement still requires approval by the US district judge in San Jose, California. It calls for Apple to pay plaintiffs USD 25 per phone, a number which may be adjusted up or down depending on how many iPhones are eligible, with a minimum payment of USD 310 million. Apple denied the accusations but settled the nationwide case to avoid the burdens and costs of litigation, court papers show. 

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Diageo pays US$5m to settle SEC sales-boosting charge

2020-02-20 17:50:00| Daily beverage news and comment - from just-drinks.com

Diageo has said it is "pleased" to have settled a charge from the US Securities and Exchange Commission that it hit performance targets by pressuring North American distributors to take extra stock.

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Airbus reaches deal to settle corruption probe

2020-01-28 08:30:04| BBC News | Business | UK Edition

Reports say the aircraft maker could end up paying fines of more than 2.5bn.

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John Stumpf: Ex-Wells Fargo boss pays $17.5m to settle charges

2020-01-24 03:11:23| BBC News | Business | UK Edition

John Stumpf has also been banned from working for US national banks after a fake accounts scandal.

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US retail imports to settle after year of tariff surges

2020-01-10 15:38:00| Daily apparel & textile news and comment - from just-style.com

After a year of fluctuations driven by the uncertainty of the trade war with China, volume at major US retail container ports is expected to return to its usual seasonal patterns during the first few months of 2020.

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