Apple settles iPhone water damage lawsuit for $53M

[everything count to life]

Apple has agreed to pay $53 million to settle a class-action lawsuit related to warranties covering early versions of the iPhone and iPod Touch.

About time apple :d

Source: http://news.cnet.com/8301-13579_3-57586562-37/apple-settles-iphone-water-damage-lawsuit-for-$53m/

[TERAFLOP]

They should've been bleed even more .

[sonarctica]

$53 million is pocket money for them :/

[That Norwegian Guy]

$53 million is pocket money for them :/

 

They did just evade $750 million worth of taxes thanks to a loophole... This leaves them with $697m worth of "unexpected profit" for the year so far...

[Makol]

They did just evade $750 million worth of taxes thanks to a loophole... This leaves them with $697m worth of "unexpected profit" for the year so far...

Them and many other companies did.

 

I am honestly perplexed why only Apple got flak for that. GE is way worse when it comes to using loopholes. 

[BrapYeah]

Most companies will simply explain "There is a loophole, and we took advantage of it" like Google and Microsoft. Apple is dumb and tried to pretend they didn't abuse loopholes, which brings them a lot of media attention.

[Jaybird]

I wouldn't call them loopholes. Anyways, why would you want a big company like that to fork over such sum? All that money is not going straight into the bosses pockets. It's going back into the company to be invested. Wouldn't you like to see something crazy new come from a company, that's going to change the way you look at something?  Big companies are not bad people; just the people who point their finger at stuff. 

 

Edit: added punctuation for clarity.

[BrapYeah]

They are loopholes, they are ambiguities in the law (avoiding the law without actually breaking it) that allow companies to report their income elsewhere (certain EU countries usually) and report all their expenses here. Now it is good to have those loopholes because it is the only thing keeping the few remaining companies in North America, otherwise, they would be long gone. Also, saying that they invest that money into something new and crazy might be pushing it. If I was to hazard a guess, I would say that goes toward their "Partner Bonus" which are more than likely more than I will make in the next 15 years.