Apple Inc. has agreed to pay up to $500 million to settle class actions alleging that it surreptitiously slowed older iPhones with software upgrades.

Apple said it admitted no wrongdoing but agreed to settle “to eliminate the burdens, distractions, expense and uncertainty of protracted litigation,” according to the settlement agreement filed Feb. 28. In a motion for preliminary approval of the settlement, plaintiffs attorneys Joseph Cotchett, principal at Cotchett, Pitre & McCarthy in Burlingame, California, and Laurence King, of Kaplan Fox & Kilsheimer in Oakland, California, who are co-lead counsel of the multidistrict litigation, said that iPhone customers, as class members, would be eligible for $25 payments under the settlement.

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