If you have - or ever owned - an iPhone, Apple might owe you some cash.

Apple recently agreed to settle a lawsuit over "throttling" - basically, slowing down older iPhones to force consumers to buy new batteries, or new phones.

When the throttling was discovered, Apple apologized and lowered the price of replacement batteries, but that didn't stop a lawsuit.

The settlement means Apple will have to pay owners of certain iPhones $25 each - with a total payout of up to $500 million. Ouch.

That means if you ever owned an iPhone 6, 6 Plus, 6s, 6s Plus, 7, 7 Plus or SE you’re eligible for a payout.

The settlement has to be formally approved by the courts before the payouts start.

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