Sony Corp (SNE) - Get SONY GROUP CORPORATION SPONSORED ADR Report has settled a class action lawsuit brought by customers who purchased the company's Xperia smartphone and tablet under the auspices that the devices are waterproof. They are not.
Sony will offer a 50% refund on the retail price of the devices for people who filed a warranty claim with the company for water damage.
The preliminary settlement involves 24 Xperia devices sold in the U.S. and Puerto Rico.
Sony shares were rising 0.28% to $38.23 in afternoon trading Wednesday.
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