Apple Stock News: Apple Is Facing Lawsuit For Causing IPhone Slow Down

Apple Stock News

Apple is being sued after causing iPhone slow down. Class action lawsuits were filed in United States (New York, California and Illinois) and Israel. The Israeli class action filed in Tel Aviv is charging the tech giant $125 million. In United States the amount in controversy exceeds $5 million.

Apple is being accused of not disclosing that software updates would slow the performance of the older iPhone models. Claimers are stating that the degrading in the performance was done without their consent. Moreover, they also believe that this action was taken to force users to upgrade to newer iPhone devices.

AAPL admitted slowing the performance of old iPhone versions. The company declared that this measure was taken in order to protect and prolong battery life of these devices and in any way to force customers to buy new iPhone models.

Apple stated “Our goal is to deliver the best experience for customers, which includes overall performance and prolonging the life of their devices.”

According to owners of old iPhone models, they never had the option to choose whether they would like to have their devices slowed down or risk damaging their batteries.

On March 9th, 2017, I Know First has sent to subscribers a bullish forecast for AAPL. Since then, Apple Stock increased 25.91% in accordance with the forecast.

For the latest Apple Stock News, AAPL closed at $175.01 per share on December 22nd, 2017. It did not generate any profits or losses from its previous close on December 21st, 2017, when it also closed at $175.01 per share.

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