Apple (AAPL) Agrees to A$2.25M iPad Settlement in Australia

June 8, 2012 8:51 AM EDT
Seems a little...well..."light."

According to reports out Friday, Apple (Nasdaq: AAPL) will be saddled with about a $2 million fine ($2.25 million Australian dollars) for misleading consumers in Australia about the 4G compatibility of its new iPad.

Charges were brought about by the Australian Competition and Consumer Commission (ACCC) in March, saying Apple was advertising a feature of the iPad it wasn't actually capable of completing on Australian networks.

In May, Apple consented with the ACCC, offering refunds to customers of the iPad who thought they had been duped. No specific figures on how many consumers returned the device are available.

At $2.25 million Australian dollars, that amounts to just 4,174 entry-level iPads, or 2,502 of the top-end model.

Apple is indicated lower Friday morning.

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