A federal lawsuit against Apple has taken shocking turn as Apple is said to have agreed upon a settlement amounting to over $100 million.
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The lawsuit brought against Apple for not allowing sufficient control over in-app purchases leading to minors purchasing loads of applications is nearing its end as a hearing regarding a settlement will commence on Friday. The settlement will see Apple provide each of the estimated 23 million customers with $5 of iTunes store credit, more if the user can prove that Apple was at fault for larger purchases. Users with bills of $30 and higher will be entitled to cash instead of the credit. Apple seems to have admitted being at fault here and the settlement should not interfere with the company’s estimated $137 billion cash reserves.
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