Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Apple agrees to conditional $450 millions in e-books price-fixing case
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Tech
  • News & Analysis
  • Apple agrees to conditional $450 millions in e-books price-fixing case

Apple agrees to conditional $450 millions in e-books price-fixing case

FP Archives • July 17, 2014, 08:54:52 IST
Whatsapp Facebook Twitter

Apple has agreed to pay $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. 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 US Circuit Court of Appeals in New York reversing the judge could, under the settlement, either reduce the amount Apple pays to $70 million, with $50 million for consumers, or eliminate payments altogether.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Apple agrees to conditional $450 millions in e-books price-fixing case

Apple has agreed to pay $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.   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 US Circuit Court of Appeals in New York reversing the judge could, under the settlement, either reduce the amount Apple pays to $70 million, with $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.   Apple in a statement denied that it had conspired to fix e-book prices and said it would continue pressing its case on appeal.   “We did nothing wrong and we believe a fair assessment of the facts will show it,” Kristin Huguet, an Apple spokeswoman, said.   The settlement, which requires approval of U.S. District Judge Denise Cote, had been announced in June. Terms were not disclosed at the time.   It came ahead of an Aug. 25 damages trial, in which attorneys general in 33 states and territories and lawyers for a class of consumers were expected to seek up to $840 million.   The deal follows earlier settlements with five publishers that provided $166 million for e-book purchasers.   Combined with the $400 million from Apple, the recovery is “among the exceedingly rare cases that provide consumers nationwide with double the amount of their estimated damages,” lawyers for the plaintiffs wrote in a motion.   The US Department of Justice and the state attorneys general sued Apple and five publishers in April 2012, accusing them of working together illegally to increase e-book prices.   In July 2013, Cote found Apple liable for colluding with the publishers to impede e-book competitors such as Amazon.com Inc (AMZN.O) after a non-jury trial.   The publishers include Lagardere SCA’s Hachette Book Group, News Corp’s HarperCollins Publishers, Penguin Group, CBS Corp’s  Simon & Schuster and Verlagsgruppe Georg von Holtzbrinck GmbH’s Macmillan.   Even if Apple does pay the full $450 million, the sum is barely 1 percent of the $37.04 billion it made in its last fiscal year, which ended in September.   Steve Berman, a lawyer for the consumer class at Hagens Berman Sobol Shapiro, said if there is an “outright reversal, then we are done.” But he said he believed the 2nd Circuit would uphold Cote’s ruling.   “There’s always room to second guess, but this was the best deal we could get on the downside,” he said in an interview.   Reuters

Tags
Apple eBooks Hachette Book Group Penguin Group HarperCollins Publishers
End of Article
Written by FP Archives

see more

Latest News
Find us on YouTube
Subscribe
End of Article

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV