Apple reaches a tentative $450 million settlement in e-book price-fixing case

Apple reaches a tentative $450 million settlement in e-book price-fixing case

Apple has reached a conditional agreement with the US Depart of Justice to pay $450 million to resolve claims that it colluded with five publishers to fix prices on e-books.

Of the $450 million, $400 million would be dispersed to consumers.

While the agreement has been reached, it’s conditional pending the ruling of the 2nd US Circuit Court of Appeals in New York. If the court reverses an earlier decision that Apple is liable for violating antitrust laws, it could reduce the the amount Apple has to pay or even find that Apple doesn’t have to pay anything.

Apple agrees to conditional $450 million e-books antitrust accord [Reuters]

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