Apple have had its $450 million settlement for its long-running ebooks case with the DoJ, granted by US District Judge Denise Cote this week. The ultimate sum distributed to consumers will hinge on Apple’s appeal, however if the original verdict is upheld then $400 million will go to consumers that were affected by the price-fixing scheme between Apple and six book publishers, with $50 million set to go to lawyers.
There are other scenarios that could play out, such as Apple potentially winning the case and not having to pay out anything. The case verdict could also be overturned and handed back to Judge Cote for another trial, which would mean Apple will pay consumers $50 million and lawyers $20 million.
Earlier in the month New York Attorney General Schneiderman said in a statement: “This settlement proves that even the biggest, most powerful companies in the world must play by the same rules as everyone else. In a major victory, our settlement has the potential to result in Apple paying hundreds of millions of dollars to consumers to compensate them for paying unlawfully inflated E-book prices. We will continue to work with our colleagues in other states to ensure that all companies compete fairly with the knowledge that no one is above the law.”
Apple by contrast still deny any wrongdoing, saying they believe the iBooks Store “has been good for consumers and the publishing industry as a whole, from well-known authors to first-time novelists.” They add, “As we wait for the court to hear our appeal, we have agreed to a settlement which is contingent on the outcome of the appeal. If we are vindicated by the appeals court, no settlement will be paid.”
