Apple May Refund $400M In Digital Book Settlement

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Apple May Refund $400M In Digital Book Settlement

by Wochit 0:49 mins

Apple May Refund $400M In Digital Book Settlement

by Wochit 0:49 mins

Apple will refund up to $400 million to consumers ensnared in a plot to raise the prices of digital books unless the company gets a court to overturn a decision affirming its pivotal role in the collusion. The settlement bill emerged in a Wednesday court filing made a month after attorneys suing Apple notified U.S. District Judge Denise Cote in New York that an agreement had been reached to avoid a trial over the issue. Lawsuits filed on behalf of digital book buyers had originally been seeking damages of up to $840 million after Cote ruled in a separate trial last year that Apple Inc. had violated U.S. antitrust law by orchestrating a price-fixing scheme with five major publishers of electronic books.

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