Technology
Judge Takes Issue with Apple’s $450M e-Books Settlement Offer
Skirting an upcoming trial, Apple agreed to pay $450 million last week to settle an antitrust lawsuit that alleged the company conspired with five book publishers to fix e-book prices. However, the judge ruling over the case is having concerns with the settlement proposal, according to Reuters.
US District Judge Denise Cote in New York said during a teleconference on Thursday that some of the terms within the settlement offer could end up meaning far less money being paid to consumers if the case is appealed, according to Reuters.
“I’m concerned about the terms of the settlement,” she said.
Cote specifically pointed to what she called the “most troubling” clause, which allows Apple to pay only $70 million if an appeals court decides to reverse her earlier decision that found the tech giant liable for violating antitrust laws. She also questioned a clause that said Apple didn’t have to pay interest during an appeals process.
