A federal judge Thursday expressed concern for the proposed $450 million settlement offered by Apple in a class action lawsuit against the company’s alleged collusion to manipulate eBook prices, reports say.
US District Judge Denise Cote said Thursday that payouts to affected eBook customers could be reduced due to a clause in the settlement agreement that says Apple will only have to pay $70 million if its appeal to reverse an earlier ruling against the company is successful.
The settlement hinges on Apple’s appeal of Judge Cote’s earlier ruling that found Apple guilty of fixing eBooks prices in a lawsuit filed by the US Department of Justice. Following the DOJ’s case, 33 states filed their own suits on behalf of eBook customers.
But Apple’s settlement of the states’ case depends on is appeal of the DOJ’s case.
Judge Cote also raised concern that Apple will not pay interest on the settlement while the appeal is pending.
The DOJ successfully sued Apple for colluding with major eBook publishers to manipulate product prices. A damages hearing for the states’ case would be held August 25 if a settlement falls through.
Full content: Times of India
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Allows FTC Antitrust Case Against Amazon to Move Forward
Oct 1, 2024 by
CPI
SAP Leader Urges Caution on EU AI Rules, Warns of Competitive Disadvantage
Oct 1, 2024 by
CPI
Colorado’s Grocery Workers Unite to Oppose $24.6 Billion Supermarket Merge
Oct 1, 2024 by
CPI
Canada’s Competition Bureau Warns Businesses of Tougher Enforcement
Oct 1, 2024 by
CPI
Top Antitrust Lawyers Launch New Boutique Firm
Oct 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh