What started as a discussion in Apple's forums has come to fruition. California resident Timothy P. Smith is bringing a class action lawsuit against Apple for its policies regarding its rules against unlocking the iPhone. The price that Smith's class action lawsuit will be asking of Apple has yet to be determined, and will first consider how many others have been affected.
Smith alleges that Apple violated California antitrust law by prohibiting iPhone owners for using the device with other wireless carriers. Under the DMCA, Smith's suit will argue that it is in fact legal to unlock the iPhone, and that Apple is unlawful in charging the prices that it does, in conjunction with AT&T's service.
Now, Apple can't actually prevent you from unlocking your iPhone, but it has taken measures to prevent this from becoming widespread, going so far as to void your warranty and render your iPhone useless the next time you try to get an iPhone update. Smith's lawsuit is demanding that Apple sell unlocked devices, and to offer service to those who have been denied warranty service because of unlocking their iPhones.
To take it a step further, Smith is also upset about the fact that Apple dropped its price of the iPhone only 2 months after the launching of the device, saying that this has devalued the iPhone and is unfair business practice. This argument in particular has already been outlined in a lawsuit initiated by Dongmei Li.