Friday, July 25th15.1°C
22663
21953

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




Recent Trending




Today's Market
S&P TSX15440.28+45.83
S&P CDNX1012.510.86
DJIA16921.10-162.70
Nasdaq4433.885-38.223
S&P 5001975.09-12.89
CDN Dollar0.9269-0.0037
Gold1294.80+4.2001
Oil104.30-0.29
Lumber325.80-0.30
Natural Gas3.777-0.07

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.02
Cantex0.075-0.005
Anavex Life Sciences0.25-0.03
Metalex Ventures0.08+0.01
Russel Metals35.54-0.03
Copper Mountain Mining2.80-0.02
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 





FEATURED Property
1939815Bungalow in Fantastic location For Sale by Owner- Moose Jaw
$254,900
more details
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22707