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
Mexico Moves Forward with Reform to Eliminate Key Regulators, Including Competition Watchdog
Aug 23, 2024 by
CPI
DOJ Sues RealPage for Alleged Rent-Fixing Scheme Using AI Software
Aug 23, 2024 by
CPI
Advance Auto Parts to Offload Worldpac for $1.5 Billion
Aug 22, 2024 by
CPI
Bronfman Ups Ante to $6 Billion in Paramount Battle, Skydance Deal at Risk
Aug 22, 2024 by
CPI
Google and California Strike Historic Deal to Fund Newsrooms Amid Controversy
Aug 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich