Apple Agrees to Conditional $450 Million Settlement of E-Books Case

Apple has agreed to a conditional $450 million dollar settlement for conspiring with five major publishers to fix e-book prices, reports Reuters. News of the settlement first surfaced back in June.

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

We'll provide more information on the settlement as it becomes available. Please follow iClarified on Twitter, Facebook, or RSS for updates.


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