US judge approves Apple's USD 450 million ebooks antitrust settlement
A US district judge has reportedly approved Apple's 450 million dollars ebooks antitrust settlement.
However, the ultimate sum distributed to consumers will hinge on the outcome of Apple's appeal, the Verge reports.
Consumers affected by the price-fixing scheme between Apple and book publishers will be entitled to 400 million dollars, with 50 million dollars to be distributed among lawyers, if the original verdict is upheld.
In case Apple wins on appeal, it will have to pay consumers 50 million dollars, with lawyers still getting a whopping 20 million dollars payday.
Expressing confidence that the appeals court will affirm her finding that Apple and publishers violated antitrust laws, US district judge Denise Cote said that she believed a fair assessment of the facts would show it, adding that if they are vindicated by the appeals court, no settlement will be paid, the report said.
(Posted on 02-08-2014)