Apple's e-book settlement gets final court approval

Apple's e-book settlement gets final court approval

A US judge gave final approval to Apple Inc's agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices.

During a hearing in Manhattan, US District Judge Denise Cote approved what she called a "highly unusual" accord. It calls for Apple to pay $400 million to as many as 23 million consumers if the company is unsuccessful in appealing a ruling that found it liable for antitrust violations.

The $400 million comes on top of earlier settlements with five publishers in the case, which provided $166 million for e-book purchasers.

Apple agreed to the settlement in June, ahead of a damages trial set for two months later in which attorneys general in 33 states and territories and lawyers for a class of consumers were expected to seek up to $840 million.

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