Apple finally settles on book cartel case

Stefan Mileschin · 18th June 2014, 06:57

The fruity maker of the rounded rectangle has reached a somewhat strange settlement with US states and other complainants in an e-book price-fixing class action lawsuit.

The move will mean that Apple will avoid a trial in which it faced more than $800 million in claims.

However the cargo cult still does not appear to have admitted that it is guilty of running a cartel to increase the price of books. It has made the agreement as a backup if it fails to win its appeal.

US District Judge in Manhattan Denise Cote found that Apple took part in a price-fixing conspiracy to fight online retailer Amazon.com Inc's dominance in the e-book market.

Apple is appealing that decision and the new settlement is contingent on the outcome of that appeal.

Steve Berman of Hagens Berman Sobol Shapiro, the plaintiffs' lead lawyer, told the judge that any payment to be made by Apple under the settlement agreement will be contingent on the outcome of that appeal.

http://news.techeye.net/business/app...ok-cartel-case

18th June 2014, 06:57	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,462	Apple finally settles on book cartel case The fruity maker of the rounded rectangle has reached a somewhat strange settlement with US states and other complainants in an e-book price-fixing class action lawsuit. The move will mean that Apple will avoid a trial in which it faced more than $800 million in claims. However the cargo cult still does not appear to have admitted that it is guilty of running a cartel to increase the price of books. It has made the agreement as a backup if it fails to win its appeal. US District Judge in Manhattan Denise Cote found that Apple took part in a price-fixing conspiracy to fight online retailer Amazon.com Inc's dominance in the e-book market. Apple is appealing that decision and the new settlement is contingent on the outcome of that appeal. Steve Berman of Hagens Berman Sobol Shapiro, the plaintiffs' lead lawyer, told the judge that any payment to be made by Apple under the settlement agreement will be contingent on the outcome of that appeal. http://news.techeye.net/business/app...ok-cartel-case

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