Apple Agrees To Pay $400 Million In E-Book Price-Fixing Case
The company said it would distribute the funds only if its appeal of a Department of Justice lawsuit isn't successful.By Jay Strubberg | July 16, 2014
Apple has agreed to shell out $400 million to consumers in 33 U.S. states over an e-book price-fixing lawsuit. But the tech giant says it will only do so if it's not able to successfully appeal an antitrust ruling. (Via Getty Images)
Last year, the Department of Justice won a suit claiming Apple colluded with five major e-book publishers to hike up prices over the standard $9.99 Amazon had set for new titles. Apple, of course, appealed. (Via Apple)
Still, the appeal is kind of a long shot for the company, since the appeals court would have to all-out reverse the lower court's decision.