Sorry, Apple: it’s time to pay up. In 2013, a United States district judge found that Apple conspired with book publishers to raise the prices of ebooks and limit competing retailers from selling them at a discount, which would help Apple’s iBooks turn larger profits without being undercut by rivals. However, Apple tried to appeal the proposed settlement.
Unfortunately for Apple, the U.S. Supreme Court declined to hear the appeal, and thus the original settlement amount – US$450 million – will be upheld. Some US$400 million (£280 million) of that will be offered to consumers who purchased ebooks during the affected span from the major publishers in question, even if it wasn’t through iBooks. The actual per-book payout for approved claims should be pretty miniscule, however.
And the remaining $50 million? Well, that will go to the lawyers: surely the biggest winners in all of this.
This article originally appeared at Stuff.tv