Apple Agrees to Mammoth eBook Settlement
Notwithstanding the company’s adamant claims that it didn’t conspire with some of the world’s leading publishers to fix eBook prices, Apple on Wednesday agreed to a whopping $450 million settlement.
The settlement should bring to an end the U.S. state and consumer allegations that the venerable Mac maker was involved in some eBook funny business.
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,”Reuters reports.
As of this writing, it isn’t clear how this situation will play out in the coming days.
“While we cannot predict the outcome of the appeal with certainty, we are confident in the case we made against Apple at trial,” says Connecticut Attorney General George Jepsen.