Apple has entered into an agreement with thirty three states for paying a sum of $400 million to customers for settling antitrust suit over the pricing of e-book. Total $450 million would be paid by the company as it would include the payments to the states as well as the fees of the attorney.
However, there could be a reduction or complete elimination of payment, however it depends on the ongoing appeal made by Apple. Last year, a federal judge ruled that antitrust laws were violated by the company and it conspired with major publishers for fixing the prices of e-book. Apple is firm that it didn’t do anything wrong.
In a statement, the company said that it didn’t conspire for fixing the price of the e-book and it would constantly fight the allegations. It further stated that facts would prove it and till the time, an outcome of the appeal doesn’t come, a settlement has been agreed upon.
With the rulings last year, various restrictions were put on Apple and an external monitor was appointed. The civil portion of lawsuit was settled by the company last month, with undisclosed terms.
With this settlement it has been proved that even the most powerful and biggest companies have to abide by some rules like others.
Latest posts by Richard Carlisle (see all)
- Apple Has Assured its iPad a New Automation Tool - Mar 24, 2017
- Womenswear Site ModCloth Has Just Become Part of Walmart Portfolio - Mar 20, 2017
- New Male CEO at Yahoo Is Going to Earn Double than Marissa Mayer - Mar 14, 2017