Apple reaches settlement in e-book price-fixing case (Update)

Jun 17, 2014
Apple has reached an out of court settlement with plaintiffs that accused it of price-fixing on e-books, a report said

Apple has reached an out-of-court settlement with a group of US states who had accused it of conspiring with publishers to fix the prices of e-books.

Eleven months after the US Justice Department found Apple guilty of violating antitrust laws in its effort to push into the e-books business, the company reached a deal on Monday to settle the states' class-action suit, which sought up to $840 million in actual and punitive damages, according to court documents.

The details of the settlement were not divulged, and it still must be approved by a judge.

In addition, the settlement must await the decision on Apple's appeal in the original antitrust case.

In the case with the states, Apple was accused of overcharging book buyers a total of $280 million, and the plaintiffs sought three times that much to punish the company.

The states' complaint, filed on behalf of consumers, accused Apple of working with five top publishers in 2009-2010 to set the prices of electronic books in an Apple-led effort to break into rival Amazon's dominance of the market.

Their complaint was filed on the heels of last July's federal court verdict against the iPhone and iPad maker, finding Apple guilty of conspiracy to fix prices of e-books with the publishers.

But the Cupertino, California-based tech giant was not fined in that case; instead, it was forced to agree to not enter any special deals with publishers, and to retain a compliance monitor to prevent the company from engaging in any antitrust activities.

Explore further: In appeal, Apple says judge 'wrong' in e-books case (Update)

add to favorites email to friend print save as pdf

Related Stories

Settlement credits sent to e-book buyers

Mar 26, 2014

Some Amazon.com Inc. e-book customers received credits Tuesday as part of the $166 million price-fixing settlement five book publishers reached with the U.S. Department of Justice.

E-books: US tells Apple to cut publishing ties

Aug 02, 2013

The US Department of Justice said Friday that tech giant Apple must cut ties with the five publishers with which it was found guilty of running an e-book price-fixing scheme.

Recommended for you

Turner channels removed from Dish amid pact spat

21 hours ago

Channels such as Cartoon Network and CNN are no longer part of Dish's programming lineup as a deadline has passed for the satellite TV provider and Turner Broadcasting to renew their distribution agreement.

Verizon reports higher 3Q net income, revenue

22 hours ago

Verizon Communications Inc. on Tuesday reported higher net income and revenue in its third quarter, helped by strong wireless subscriber growth and demand for its high-speed FiOS Internet services.

User comments : 0