Apple, electronic book publishers reach settlement on damages owed in price-fixing case
NEW YORK, N.Y. - Apple and several major publishers have reached a settlement on the damages owed in a case that concluded the companies illegally conspired to drive up the prices of digital books.
Terms of the settlement weren't disclosed in a document filed late Monday. Those details will emerge in a filing due by July 16.
Lawyers representing consumers across the country had been seeking up to $840 million in damages. A trial on the damages claims had been scheduled to begin Aug. 25 in federal court in New York.
In another trial last year, U.S. District Judge Denise Cote ruled that Apple and the publishers conspired to boost electronic book prices from April 2010 to May 2012.
The damages settlement is contingent on Apple Inc. losing its appeal of Cote's decision last year.
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