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Apple lawsuits bite: tech stocks hit by iphone X woes

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Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change.

The tweak may have led iPhone owners to misguided attempts to resolve issues over the last year, the lawsuits contend.

All the lawsuits filed in U.S. District Courts in California, New York and Illinois seek class-action to represent potentially millions of iPhone owners nationwide.

A similar case was lodged in an Israeli court on Monday, the newspaper Haaretz reported.

Apple did not respond to an email seeking comment on the filings.

It’s not the only challenging news it’s facing.

European tech stocks tumbled as investors reacted to reports that demand for Apple’s iPhone X may be weaker than expected.

The pan-European STOXX 600 fell by 0.1 %, as a downturn in the high-performing tech sector outweighed strong mining and oil stocks.

Tech stocks fell 1 % to be the worst-performing sector.

 

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