Apple to pay consumers up to $400 mn in e-books case

The Apple logo is seen on September 11, 2012 at the Yerba Buena Center for Arts in San Francisco
The Apple logo is seen on September 11, 2012 at the Yerba Buena Center for Arts in San Francisco

Apple will pay up to $400 million to compensate consumers for illegal price-fixing conspiracy for electronic books, officials said Wednesday.

The settlement would reimburse consumers in 33 states whose authorities sought damages for Apple's price-fixing, according to a statement from New York's attorney general.

But the settlement is contingent on the verdict being upheld in a July 2013 federal court ruling that Apple violated by orchestrating a conspiracy with five publishers to raise e-book prices.

If Apple's federal conviction is overturned, no money will be paid. If the case is retried, the settlement amount will be $50 million, the statement said.

Apple will also make payments to the 33 states of $20 million to cover costs, fees, and civil penalties if its conviction is upheld.

"This settlement proves that even the biggest, most powerful companies in the world must play by the same rules as everyone else," said New York state Attorney General Eric Schneiderman.

Apple's deal with the publishers as it introduced its iPad tablet shook up the existing model, but US officials said this was an illegal conspiracy which raised prices.


Explore further

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

© 2014 AFP

Citation: Apple to pay consumers up to $400 mn in e-books case (2014, July 16) retrieved 20 September 2019 from https://phys.org/news/2014-07-apple-consumers-mn-e-books-case.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more