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Apple agrees to conditional $450 mln e-books antitrust accord
July 16, 2014 / 4:10 PM / 3 years ago

Apple agrees to conditional $450 mln e-books antitrust accord

July 16 (Reuters) - Apple Inc has agreed to pay $450 million to resolve U.S. state and consumer claims the iPad manufacturer conspired with five major publishers to fix e-book prices, according to court records filed Wednesday.

But the settlement, which would provide $400 million for consumers, is conditioned on the outcome of a pending appeal of a New York federal judge’s ruling last year that Apple was liable for violating antitrust laws.

A ruling by the 2nd U.S. Circuit Court of Appeals in New York reversing the liability finding could under the settlement either reduce the amount Apple pays to $70 million, with $50 million for consumers, or eliminate payments altogether. (Reporting by Nate Raymond, Alison Frankel and Jonathan Stempel in New York, Editing by Franklin Paul)

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