Apple on Wednesday agreed to a $450 million settlement to settle claims that the tech giant conspired with five book publishers in an effort to fix eBook prices. Reuters reports that the settlement would provide $400 million to consumers, but is conditioned on the outcome of an ongoing trial in the 2nd U.S. Circuit Court of Appeals in New York. “A ruling by the 2nd U.S. Circuit Court of Appeals in New York reversing the liability finding could under the settlement either reduce the amount Apple pays to $70 million, with $50 million for consumers, or eliminate payments altogether,” Reuters’ Nate Raymond, Alison Frankel and Jonathan Stempel reported.
Apple agrees to pay $450 million to settle price-fixing suit
Published Jul 16th, 2014 12:32PM EDT
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
