Apple $450 mn e-book settlement gets final court approval

Reuters Updated - November 22, 2014 at 11:41 AM.

A US judge on Friday gave final approval to Apple Inc's agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices.

During a hearing in Manhattan, US 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.

The $400 million comes on top of earlier settlements with five publishers in the case, which provided $166 million for e-book purchasers.

Published on November 22, 2014 06:05