Apple to pay consumers up to US$400m in e-books case
Published on Jul 17, 2014 12:50 AM
NEW YORK (AFP) - Apple will pay up to US$400 million (S$497 million) to compensate consumers for illegal price-fixing conspiracy for electronic books, officials said Wednesday.
The settlement would reimburse consumers in 33 states whose authorities sought damages for Apple's price-fixing, according to a statement from New York's attorney general.
But the settlement is contingent on the verdict being upheld in a July 2013 federal court ruling that Apple violated antitrust laws by orchestrating a conspiracy with five publishers to raise e-book prices.
If Apple's federal conviction is overturned, no money will be paid. If the case is retried, the settlement amount will be US$50 million, the statement said.
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