As a now-famous YouTube clip from 2010 shows, kids as young as 2 can operate an iPad, quickly learning how to open apps and play games. Unfortunately, some parents who used their iPad or iPhone as a babysitter ended up with a steep bill when their kids spent hundreds of dollars on virtual items in “free” games.

Five disgruntled parents blamed Apple for failing to provide appropriate controls around in-app purchases, and together filed a class-action lawsuit against the iPhone maker in 2011.

After fighting the case for two years, Apple agreed to settle last week, according to court filings first spotted by GigaOm. Read more