Apple's $450 million e-book settlement gains court approval

November 23, 2014

U.S. District Judge Denise Cote had approved Apple's agreement to settle its case where the iBooks-seller was accused of conspiring with five different publishers to raise e-book pricing for customers. The $450 million settlement had received preliminary approval back in August, and now the judge has fully approved it asking Apple to pay $400 million to as many as 23 million iBooks customers and $50 million to attorneys.

As was reported by Reuters:

During a hearing in Manhattan, U.S. District Judge Denise Cote approved what she called an "unusual" accord. It calls for Apple to pay $400 million to as many as 23 million consumers if the company's appeal of a ruling finding it liable for antitrust violations is unsuccessful.

This $400 million is Apple's settlement, which is separate from the settlements reached by the publishers themselves.

If you want more details on the e-book price fixing saga, be sure to read our prior coverage.

Source: Reuters