"Apple's $500 Million iPhone Settlement: Payouts Imminent for Users"

Apple has agreed to pay a settlement of up to $500 million in a lawsuit alleging that the company deliberately slowed down older iPhones with software updates. The settlement, which is the largest-ever in a computer intrusion case, will compensate approximately 100 million iPhone users. Payments will be distributed to eligible individuals who owned iPhone 6, 6 Plus, 6S Plus, SE, 7, or 7 Plus devices and filed claims before the October 2020 deadline. Around 3 million people have been approved for payments, with expected amounts averaging around $65.