New York, NY: Apple has agreed to a $53 million settlement in the class action lawsuit pending over alleged defective iPhones and iPod Touch.
The unfair business practices practices class action was originally filed against Apple in 2010, and centered around claims that the company failed to honor its warranty obligations by fixing or replacing defective devices.
According to a report by CNET, thousands of owners of the original iPhone, iPhone 3G, iPhone 3GS, or the first three generations of the iPod Touch who were unsuccessful in getting Apple to honor its warranty related to repairs and replacements, can submit claims in the suit. These devices carried one-year standard and two-year extended warranties.
The settlement has yet to be approved, and full details have not been made public. Wired is reported that depending on how many people submit claims, individual payouts could be approximately $200.