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US: $450M eBooks price-fixing agreement accepted by Apple

By  |  July 17, 2014

According to court documents filed Wednesday, Apple has reportedly agreed to pay $450 million to settle allegations of eBook price-fixing in a class action lawsuit filed by several states.

The settlement, however, is conditional upon the pending appeal Apple filed against a ruling last year that found the company liable for antitrust violations.

A federal judge found that Apple conspired with five publishers to manipulate eBook prices after the US Department of Justice sued the technology conglomerate. States followed with their own lawsuits on behalf of consumers following the decision.

But, according to reports, the $450 million settlement could be reduced to just $70 million, or could be eliminated altogether, if Apple succeeds in its appeal of the initial ruling.

Full content: Reuters

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