The SEC is Investigating Apple Over This

The Securities and Exchange Commission as well as the U.S. Department of Justice are investigating tech giant Apple Inc. to see whether or not the company has violated securities laws concerning its disclosures about a software update that slowed older iPhone models.

People close to the situation who remain unnamed have said that the government has requested information from the Apple. The probe is private and is in its early stages according to the sources.

Both Apple and the SEC have yet to comment.

Apple admitted that it had slowed down the performance of older iPhone models to make the batteries last longer and released an update earlier last year that slowed the phones down.

It was last month that Apple apologized for not communicating this information and said it would release another update to fix the problem.

Apple has been under pressure recently as it has recently cut in half the amount of iPhone X units it wants produced by its suppliers.

There are concerns that the company has had weaker than anticipated iPhone X sales.

Disclaimer: We have no position in Apple Inc. (NASDAQ: AAPL) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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