Penguin chief: Apple's ebook plan 'dramatically changed' market

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Apple has settled out of court with the 33 US states and territories that had been seeking up to $840m in damages for its ebook price-fixing shenanigans.

The fruity firm, which was found guilty of engaging in the price-fixing conspiracy with five major book publishers in a separate trial, has always maintained its innocence and fought hard against the allegations.

Even after Penguin, HarperCollins, Macmillan, Simon & Schuster and Hachette settled the earlier case with the US Department of Justice, Apple fought on and is still in the process of appealing the guilty verdict.

Apple also tried to get the damages case dismissed, or at least delayed until after its appeals were heard, but the courts said last month that the trial to decide on the size of the payouts to the US states should go ahead.

However, the company caved to the class action lawsuit today, avoiding the trial that could have seen it landed with an $840m bill if the full awarded damages were tripled.
The terms of the settlement, which still has to be approved by the court, have not been revealed.

The five publishers previously agreed to settlements worth around $167m, after US state attorneys general filed lawsuits on behalf of their local ebook consumers.

Although Apple has negotiated a settlement on the terms of the damages, it hasn’t written the cheques yet. The firm’s lawyer told Judge Denise Cote that any money in the agreement would only be handed over if Apple loses its appeal against the guilty decision.

The judge has ordered the parties to get their filings in for court approval for the settlement within 30 days.

Apple settles ebook price-fixing damages lawsuit with US states

 

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The attorneys on Wednesday said Apple would pay $400 million, adding to the $166 million the states received from the publishers involved in the price-fixing scheme. However, the amount could change if Apple wins its appeal in the original e-books price-fixing trial won by the US Department of Justice in 2013.

Apple could fork over $400M to settle e-books price-fixing suit - CNET

 

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The ruling would force Apple to pay consumers $450 million under a 2014 settlement of a class action with 33 state attorneys general and lawyers, unless it files another appeal and wins. The settlement was contingent on Apple's civil liability being upheld.

http://www.reuters.com/article/2015/06/30/us-apple-ebooks-decision-idUSKCN0PA1RS20150630

I hope everyone are still happy with the fruit company. Note that settlement price has ballooned from 400 to 450 million dollars.

 

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The U.S. Supreme Court on Monday declined to hear Apple Inc's challenge to an appellate court decision that it conspired with five publishers to increase e-book prices, meaning it will have to pay $450 million as part of a settlement. "Apple’s liability for knowingly conspiring with book publishers to raise the prices of e-books is settled once and for all," said Bill Baer, head of the U.S. Justice Department's antitrust division. Baer called the price-fixing conspiracy "cynical misconduct."

Supreme Court rejects Apple e-books price-fixing appeal