Free Market Evaluation - Send us your resume and we will give you free feedback
The Home Depot Inc. Hit with Class Action Lawsuit
The Home Depot Inc. Hit with Class Action Lawsuit
Allied Irish Bank Sues Citibank for Fraud
Allied Irish Bank Sues Citibank for Fraud
Record-Setting Settlement for Gulf of Mexico Oil Spill
Record-Setting Settlement for Gulf of Mexico Oil Spill
Beck’s Beer Loses False Advertising Suit, Beer Actually Brewed in the U.S.
Beck’s Beer Loses False Advertising Suit, Beer Actually Brewed in th...
Legal Job Listings
Download PDF

Apple Reaches Settlement in E-Book Antitrust Case View Count: 168

apple_new

An out-of-court settlement was reached between Apple Inc. and complainants in a class action lawsuit regarding e-book price-fixing allegations, according to Reuters. The settlement keeps the lawsuit from reaching a trial, in which the company faced $800 million in claims.

The parties have been ordered to submit filings to seek approval of the settlement within 30 days by U.S. District Judge Denise Cote in Manhattan. The terms of the settlement have not be made public and still need to be approved by the court.

Apple and five publishers were sued by the United States Department of Justice back in April of 2012. The company was accused of working together illegally to increase the price of e-books.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Since the filing of the first lawsuit, 33 states and United States territories have sued Apple separately on behalf of consumers. At the same time, individual consumers filed a class action lawsuit in other states and territories. The complainants are asking for $840 million in damages for customers of e-books. A trial was scheduled for July 14 to determine the exact amount of the damages.

Previously, publishers had agreed to settle antitrust charges by paying $166 million. The publishers involved include HarperCollins Publishers, Hachette Book Group, Macmillan, Penguin Group (USA) and Simon & Schuster Inc.

A federal court in July found Apple liable for colluding with those publishers following a non-jury trial in a case filed by the Department of Justice. Judge Cote ruled that Apple was involved in a price-fixing scheme to fight Amazon.com’s dominance in the market for e-books. Apple is appealing the decision and the settlement will be contingent on the appeal ruling.

“As set forth in the memorandum of understanding, any payment to be made by Apple under the settlement agreement will be contingent on the outcome of that appeal,” Steve Berman of Hagens Berman Sobol Shapiro, the plaintiffs’ lead lawyer, wrote in a letter to the judge.

Apple Reaches Settlement in E-Book Antitrust Case by

Tagged: , , ,

Posted by on June 17, 2014. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Accountant for Law Firm
USA-FL-Pensacola
Cutting-edge law firm seeks experienced Staff Accountant to join their team! This position offers job security, flexibility, work-life balance, and competitive salary. Candidates should have 7 to 1...


Apply now

Related Posts: