The ACCC was claiming yesterday that Apple was falsely advertising the iPad in Australia, using the “4G” moniker in its name despite the fact that Australians will not be able to get 4G because of spectrum incompatibilities with the carriers.

Apple has reportedly reached an agreement with the Australian Competition and Consumer Commission according to which the Cupertino-based company will refund early adopters if they feel they were misled by the claimed “false advertisement”. Furthermore, when the case returns to court in May, Apple will fight to defend the New iPad’s name. “Ultimately at trial, it will be contested by Apple there are in Australia networks that according to international definitions are 4G, are properly described as 4G. Can you mislead a consumer with a statement that is technically accurate?”, said Paul Anastassiou, Apple’s senior council.

There will also be disclaimers letting people know of the incompatibilities but the one pictured below was visible on an Australian unit which was used for disassembly purposes.