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Apple Settles E-Book Pricing Suit

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Jun 17, 2014, 7:26 AM   by Eric M. Zeman

Apple has settled a civil lawsuit over the prices it charged for e-books, according to court documents filed in New York. Exact terms of the deal were not disclosed, but the parties have agreed to the basics of the settlement. Consumers and several U.S. states were seeking as much as $840 million over allegations that Apple colluded with publishers to raise the prices of e-books from $10 to $13/$15 for popular titles. Plaintiffs claimed Apple over-charged consumers by $280 million, and sought three times that amount in damages. The settlement will need to be approved by the court before it is implemented. Apple maintains it has done nothing wrong, though it is currently appealing an antitrust ruling levied against it last year.

more info at Wall Street Journal »

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