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Photo: Joan Cros/Corbis via Getty Images

Some iPhone owners could receive $25 from Apple after the tech giant agreed to pay up to $500 million to settle a class-action lawsuit accusing it of slowing down older models.

The big picture: While Apple admitted in 2017 it slowed devices to avoid shutdowns, it has not admitted wrongdoing in the settlement. A federal judge must approve the settlement and a hearing is set for April 3.

Read the proposed settlement:

Flashback: Apple to cut battery price after admitting slowing down old devices

Go deeper

1 hour ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.

Trump pardons Michael Flynn

President Trump with Michael Flynn in 2016. Photo: David Hume Kennerly/Getty Images

President Trump on Wednesday pardoned his former national security adviser Michael Flynn, who pleaded guilty in the Mueller investigation to lying to FBI agents about his conversations with a former Russian ambassador.

Why it matters: It is the first of multiple pardons expected in the coming weeks, as Axios scooped Tuesday night.