Judge Approves $450M Settlement For Apple's Ebook Price Fixing

An anonymous reader writes: On Friday a U.S. federal judge approved a settlement in the Apple ebook price-fixing case that could see the technology giant paying $450 million. $400 million of that would go to the roughly 23 million consumers thought to be affected by the price fixing, and the rest would go to lawyers. Though the case is now settled, the dollar amount is not necessarily final — an appeals court still has to rule on a previous verdict. If the appeals court finds in Apple's favor, then the total settlement drops to only $70 million. If they find against Apple, then it's the full amount. "The settlement appeared to reflect fatigue by Apple, the Justice Department, state attorneys general and class-action lawyers eager to conclude a case that has dragged on, largely because of delays by Apple."

Comments

Re:So good that the proxy battle is over

[I'm New Around Here]

Sounds like it. Apple and 5 publishers tried to raise the price of new "e-books from the $9.99 price that Amazon had made standard".

So why does Amazon get to set the price, and not Apple or the publishers?