Well, you knew this was coming. After all, suing Apple has become something of a favorite past time for individuals and companies. Bloomberg reports that two iPhone users have filed a federal lawsuit against Apple alleging invasion of privacy and computer fraud regarding the iPhone's ability to track and store cell phone tower data.
Right now details are sparse, there's no word what kind of damages the plaintiffs are seeking, and Apple has not issued a statement on the lawsuit. However, with more and more "Locationgate" stories hitting the news daily, you can expect that Apple is working on, if not a solution, at least a response to the matter.
UPDATE: Bloomberg has expanded its article, quoting an attorney for the plaintiffs as saying, "We take issue specifically with the notion that Apple is now basically tracking people everywhere they go. If you are a federal marshal you have to have a warrant to do this kind of thing, and Apple is doing it without one." The plaintiffs (an iPad and iPhone user) are asking a judge to bar Apple from recording location data and a refund for their devices, saying they would not have purchased them if they had known about the location tracking in iOS.