by A U.S. district court judge has given preliminary approval for Apple to pay a $450 million settlement for its role in an ebooks price-fixing conspiracy.
Judge Denise Cote of the U.S. District Court for the Southern District of New York on Friday approved the deal that would have Apple paying $400 million to affected ebook buyers and $50 million in attorneys fees in a class-action lawsuit, but only if Apple’s appeal of a 2013 price-fixing ruling by the New York court is rejected.
If the U.S. Court of Appeals for the 2nd Circuit reverses and remands the case back to district court, the settlement agreement approved by Cote would have Apple pay consumers $50 million and attorneys $20 million. If the appeals court reverses the 2013 decision by the New York court, Apple would pay no damages.
To read this article in full or to leave a comment, please click here
