Apple Inc. and shareholders told a federal court they had reached a preliminary settlement agreement over litigation centered on the effects of Apple’s ‘Batterygate’ scandal in 2017.
The parties submitted a joint notice of preliminary settlement to the US District Court for the District of California on Thursday. The shareholder derivative suit commenced in August 2019 in the wake of “batterygate” when Apple publicly admitted it had purposely and secretly slowed down older iPhones.
When shareholders brought their derivative suit in 2019, they alleged Apple made misleading statements about sales growth between August 2017 and January 2019. The statements led ...
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