- The U.S. Department of Justice and the Securities and Exchange Commission are investigating Apple’s (NASDAQ:AAPL) slowing of older iPhone models, according to Bloomberg sources.
- The question is whether Apple violated securities laws by not disclosing that an early 2017 software update could throttle older devices with old or malfunctioning batteries.
- Apple later apologized for not communicating the information, offered discount replacement batteries, and promised to release a software update to make battery information more transparent.
- The government has requested information from Apple but sources say the inquiry is in early stages.
- Apple shares are down 1.1%.
- Previously: Apple's apology letter to consumers includes $29 batteries (Dec. 28, 2017)
- Previously: Apple delaying some iOS updates; WSJ reports on iPhone X production cuts (Jan. 30)
- Previously: Deutsche Bank (DE:DBKGn): Apple consensus estimates still too high for Q1, Q2 (Jan. 30)
- Now read: Here We Go Again: Time To Buy Apple Shares Cheap After Earnings Concerns
Original article