Friday, November 28th2.6°C
24124

Apple to pay $400 million to settle e-book price-fixing case unless company prevails in appeal

NEW YORK, N.Y. - Apple will pay up to $400 million to compensate consumers ensnared in a plot to raise the prices of digital books unless the company overturns a court decision attesting to its pivotal role in the collusion.

The terms of the settlement disclosed in a Wednesday court filing came a month after attorney suing Apple notified U.S. District Judge Denise Cote that an agreement had been reached to avert a trial.

Lawsuits filed on behalf of digital book buyers had been seeking damages of up to $840 million for a price-fixing scheme that Cote ruled had been orchestrated by Apple Inc.

Apple is appealing Cote's decision. The Cupertino, California, company won't have to pay the $400 million settlement if it prevails.

Five major book publishers previously reached settlements totalling $166 million.

The Canadian Press


Read more Business News

23643


Recent Trending




Today's Market
S&P TSX14922.44-115.97
S&P CDNX755.45-15.61
DJIA17827.7512.81
Nasdaq4787.317+29.065
S&P 5002072.83+5.80
CDN Dollar0.8776-0.0041
Gold1181.00-15.60
Oil68.95-4.74
Lumber327.90-1.60
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.15-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.340.00
Cantex0.04-0.005
Anavex Life Sciences0.171-0.004
Metalex Ventures0.04+0.005
Russel Metals30.70-0.80
Copper Mountain Mining2.12-0.04
Colorado Resources0.13+0.01
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.32-0.02

 
23744


23015

FEATURED Property
20158481110 Felix Road
3 bedrooms 3 baths
$364,900
more details
image2
Click here to feature your property
Please wait... loading


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...

_



24156

24207


Member of BC Press Council


22632