Apple Will Pay $53M to Settle iPhone Warranty Suit

Apple is agreeing to pay out $53 million in order to settle a class action brought against the company which claimed that Apple failed to honor warranties on iPhones and iPod Touch devices.

The settlement will reportedly be filed in a San Francisco federal weeks in the coming weeks. Wired broke the story:

According to several lawsuits combined in San Francisco, no matter what the problem, Apple refused to honor warranties if a white indicator tape embedded in the phone near the headphone or charging portals had turned pink or red.

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