Apple will pay up to $500 million to end a lawsuit claiming it intentionally slowed down iPhones (AAPL)

Apple has agreed to pay up to $500 million to settle a lawsuit accusing it of intentionally slowing down certain iPhone models, as first reported by Reuters.
The class action lawsuit claimed Apple capped performance on older iPhones to encourage consumers to upgrade.
Apple said its updates were intended to prevent aging batteries from causing the phones to malfunction.
The company faced intense backlash in 2017 after admitting the updates slowed down phones, and has faced fines previously over t