Apple agrees to settle lawsuit over iTunes gift card scam

FILE PHOTO: Customers enter the Apple store on 5th Avenue beneath an Apple logo in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike Segar/File Photo

(Reuters) - Apple has agreed to settle a lawsuit accusing the company of knowingly letting scammers exploit its gift cards, and keep stolen funds for itself.

According to a filing on Wednesday in federal court in San Jose, California, Apple and the plaintiffs have agreed on material settlement terms after working with a mediator.