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Court approves Apple's $450 million e-book settlement

<div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"><p><a href='http://www.imore.com/court-approves-apples-450-million-e-book-settlement' title="Court approves Apple's $450 million e-book settlement"><img src='http://www.imore.com/sites/imore.com/files/styles/large/public/field/image/2013/11/iBooks_ios7.jpg?itok=E0krXdS1' />[/url]</p> <p>Apple has secured a preliminary approval from the courts for its e-book (http://www.imore.com/tag/ebooks) settlement of $450 million. The class action law suit was filed against Apple on behalf of consumers and 33 states alleging that the iBooks-seller (http://www.imore.com/tag/ibooks) had conspired with five publishers to set e-book prices high (http://www.imore.com/apple-publishers-reportedly-abandon-ibooks-agency-model-appease-justice-department), hurting consumers.</p> <!--break--> <p>The case case was raised in July 2013 when the Department of Justice (http://www.imore.com/tag/doj) accused Apple of violating antitrust laws to raise prices and hurt competition with rivals like Amazon. Apple agreed to settle in June and the deal would have Apple paying $400 million to consumers and $50 million to lawyers in the ruling is upheld in appeals. If Apple wins its appeal, then it would pay nothing.</p> <p>Adding another layer of legal complexity, if the appeals court overturns the Cote case but gives it a new trial, then Apple would have to pay $50 million to consumers and $20 million to lawyers.</p> <p>Source: Reuters (http://www.reuters.com/article/2014/08/01/us-apple-ebooks-idUSKBN0G14YQ20140801?feedType=RSS&amp;feedName=technologyNews)</p> </div></div></div><div id="comment-wrapper-nid-26121"></div><img width='1' height='1' src='http://tipb.com.feedsportal.com/c/33998/f/616881/s/3d1a2ed8/sc/1/mf.gif' border='0'/><br clear='all'/>

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