Thursday, 24 July, 2014

Published July 17, 2014
Apple agrees to conditional US$450m e-books antitrust accord

[NEW YORK] Apple Inc has agreed to pay US$450 million to resolve US state and consumer claims the iPad manufacturer conspired with five major publishers to fix e-book prices, according to court records filed Wednesday.

But the settlement, which would provide US$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 2nd US Circuit Court of Appeals in New York reversing the liability finding could, under the settlement, either reduce the amount Apple pays to US$70 million, with US$50 million for consumers, or eliminate payments altogether.

"While we cannot predict the outcome of the appeal with certainty, we are confident in the case we made against Apple at trial," Connecticut Attorney General George Jepsen said in a statement.