In a recent development, a settlement check from Apple Inc. AAPL related to the “batterygate” case has reportedly bounced due to insufficient funds.
What Happened: Desiree McNeil, a resident of Clay County and one of the iPhone users included in Apple’s settlement received a check for $92.17, Apple Insider reported on Wednesday. The check, issued as part of the settlement, was dated January 3, 2024, and deposited by McNeil on April 1. However, by April 3, McNeil’s credit union returned the check unpaid due to insufficient funds.
“They said that the litigants didn’t pay it,” McNeil stated.
First Coast News confirmed that Apple was indeed issuing such checks. They also reached out to the credit union, which reportedly claimed that the check was now too old.
“According to the front of the check she had until April 18th before it would become void,” news anchor Anthony Austin reported. The credit union directed Austin to the check’s issuer, Huntington Bank, who then referred him to an account administrator. The investigation is ongoing.
Apple has yet to provide a comment to Benzinga on the matter.
Why It Matters: This incident comes in the wake of Apple’s agreement to pay $14.4 million to settle the "Batterygate" class-action lawsuit in Canada in March. The lawsuit accused Apple of secretly slowing down iPhones as their batteries aged.
Meanwhile, the iPhone 16 Pro Max may feature a battery with increased energy density and a stainless steel housing.
Price Action: On Wednesday, Apple’s stock was trading at $222.25, down 1.24% from its previous close at the time of writing, according to Benzinga Pro.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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