NY judge agrees $450 million Apple fine over e-books price-fixing

A Manhattan Court has rubber-stamped an agreement for the company to pay $400m to 20 million consumers and $50 million to lawyers involved in the case.

Apple settlement on e-books agreed by a Manhattan court Lester Balajadia

The company can continue to appeal a ruling last year which found that Apple had behaved anti-competitively when it joined forces with publishers against Amazon to raise the price of e-book prices. If successful, it will not have to pay the $450 million or if a new trial is ordered, it will pay a reduced fine of $50 million to consumers and $20 million to lawyers. Originally, lawyers in 33 countries had claimed $840 million but Apple opted to settle rather than go to trial. Other book companies have also paid fines including Penguin Group, Harper Collins and Macmillan. Source: Techtimes

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