Apple Agrees to Pay $450 Million to Settle E-Book Pricing Dispute

Apple

Apple has agreed to pay $450 million to resolve U.S. state and consumer claims the iPad manufacturer conspired with five major publishers to fix e-book prices, according to court records filed Wednesday. The settlement, which would provide $400 million for consumers, is conditioned on the outcome of a pending appeal of a New York federal judge’s ruling last year that Apple was liable for violating antitrust laws. A ruling by the 2nd U.S. Circuit Court of Appeals in New York reversing the judge could, under the settlement, either reduce the amount Apple pays to $70 million, with $50 million for consumers, or eliminate payments altogether. “While we cannot predict the outcome of the appeal with certainty, we are confident in the case we made against Apple at trial,” Connecticut Attorney General George Jepsen said in a statement.

Read the full story at Reuters.

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