As well as releasing a new software update for OS X Mountain Lion, Apple has released a new update for the previous version of its Mac OS, OS X Lion, and the new update brings OS X Lion up to 10.7.5.
The OS X Lion 10.7.5 software update brings a number of bug fixes to OS X Lion, as well as some new features, you can see full details of what is new in OS X Lion 10.7.5 below.

About OS X Lion Update 10.7.5 (Client)
The 10.7.5 update is recommended for all OS X Lion users and includes general operating system fixes that improve the stability, compatibility and security of your Mac. It also includes Gatekeeper, a new security feature that helps you keep your Mac safe from malicious software by giving you more control over what apps are installed on your Mac.
The 10.7.5 update also includes fixes that:
Resolve an issue where icons in Launchpad may get rearranged after a restart
Improve Wi-Fi reliability for iMac (Late 2009 and newer)
Resolve an issue using Spotlight to search an SMB server
Improve compatibility connecting to Active Directory servers
For detailed information on this update, please visit this website: https://support.apple.com/kb/HT5313.
For information on the security content of this update, please visit: https://support.apple.com/kb/HT1222.
Source Apple
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