Apple has settled out of court in the latest eBooks price fixing suit brought against the company. It was set to go before a jury next month, with potential damages being as much as $840 million.
The terms of the settlement haven’t yet been revealed, and the opposing side now has one month to request formal acceptable of their agreement by the court.
Apple was first accused of conspiring with publishers to increase eBook pricing in its Bookstore back in 2012. Last year, Apple was found to have colluded with publishers by a federal court. Apple appealed the verdict, but sent affected iTunes credit as a make-good anyway.
Provided that today’s acceptance is accepted by the court, this may finally mean the end of the case — although Apple still plans to continue appealing the earlier ruling.
- Source Bloomberg