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Apple to Pay $450M in eBook Settlement

doj304Apple has agreed to pay $450 million in damages to put an end to the eBook price fixing case. The company agreed to the settlement last month, but terms of the deal were just disclosed this week.

The Washington Post has more: “The settlement, which would provide $400 million for consumers, is conditioned on the outcome of a pending appeal of a New York federal judge’s ruling last year that Apple was liable for violating antitrust laws. A ruling by the U.S. Court of Appeals for the 2nd Circuit in New York reversing the judge could, under the settlement, either reduce the amount Apple pays to $70 million, with $50 million for consumers, or eliminate payments altogether.”

Apple was found guilty of eBook price fixing in July 2013. A trial was scheduled for this July to determine the damages that Apple would have to pay. Apple lost an appeal in the eBook judgement back in February, and had since been pushing to delay the trial.

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