Apple will pay up to half a billion dollars to settle a class action lawsuit accusing it of slowing down older iPhone models to compel users to buy new ones. Great news: You might already be owed some unexpected dough that you just didn't know about — thanks to a settlement from a class-action lawsuit. After a case settles, administrators normally contact class members via email or regular mail to notify them of the settlement. iPhone users are slated to get $25 each from an up-to-$500 million settlement of a class-action lawsuit over Apple's decision to throttle the performance … In the event Apple decides it’s the better (or, more accurately, more cost-effective) option to settle the lawsuits, class members again do not have to do anything to be included in the settlement. It is literally a legalized loan shark. Apple admits to slowing down older phones IPhone users who were named in the class-action lawsuit will get up to $3,500 each.

If you owned an older iPhone, you might be entitled to some cash from Apple.. Looking for a way to make money fast or mindlessly?

This could reportedly be adjusted depending on how many people are eligible, as Apple is obligated to pay out at least $310 million. Settlement Now loans are a loan shark’s wet dream. In some instances, your attorney may try to negotiate to have the value of these liens reduced so that you will wind up with more money in your own pocket. Apple has agreed to pay anywhere from $310 million to $500 million to settle the lawsuit. On the other side of the coin, the amount of individual payouts from the settlement may be reduced if the number of iPhone devices identified in approved claims, multiplied by $25, exceeds Apple’s settlement … Box 43062, Providence, RI 02940-3062 or (b) scan the signed Claim Form and upload it to this website at the. If too many people file, the $25 amount could shrink. Consumers must file claims to get the award, but Apple has not yet shared how to do so. A hearing will be held April 3. Apple will pay a minimum of $310 million and a maximum of $500 million to settle the litigation, according to a filing last Friday in U.S. District Court for the Northern District of California. If too many people file, the $25 amount could shrink. Payments to consumers may increase in the event that the total amount paid by Apple does not meet the minimum settlement award of $310 million, the settlement document explains. Apple starts to shell out $400 million to customers in e-book settlement.

However, this negotiation can take up additional time and slow down the receipt of your settlement funds. Earlier today, we shared the news that Apple is on the hook for $450 million in the settlement of a 2012 antitrust case against Apple and five major book publishers. Apple Might Owe You $25 for Slowing Down Your Phone The company has agreed to a $500 million settlement and some of that is owed to you.

The proposed settlement is in the US courts. As it stands, however, customers may receive a payout of $25. You probably won’t get that much money.