Apple has agreed to pay a total of $450 million to resolve its long running court battle with U.S. federal and state governments, which claimed that the company conspired to fix prices for ebooks that it published on the iPhone and iPad alongside five major book publishers.
The amount of the settlement agreement was revealed in court documents this morning but it needs to be approved by U.S. District Judge Denise Cote, In addition, the settlement is still waiting for the decision of an appeal made in 2013 in a New York federal court that Apple was liable for violating antitrust laws. The settlement itself was first disclosed a few weeks ago. Of that $450 million, about $400 million is supposed to be given to consumers in some way, although details were not revealed.
The U.S. Department of Justice and a number of state attorneys general filed a lawsuit against Apple in 2012, claiming that the company worked illegally with Hachette Book Group, HarperCollins Publishers, Penguin Group (USA) Inc, Macmillan and Simon & Schuster to raise prices for ebooks. The five book publishers have all since settled with the government for a total of $160 million in charges.
What do you think of the amount that Apple may have to pay to settle this long standing case?