A federal judge in New York has given final approval to a settlement in which Apple will pay $450 million for its role in a conspiracy to fix prices for ebooks.
Judge Denise Cote of the U.S. District Court in Manhattan called the settlement “fair and reasonable.” It requires Apple to pay $400 million to consumers who bought certain books between 2010 and 2012, as well as $50 million in attorneys’ fees.
Although the settlement is final, Apple only has to pay that amount if it loses its appeal of a 2013 price-fixing ruling. If the appeal is successful, Apple will pay only $50 million to ebook purchasers and $20 million to attorneys.
A hearing on the appeal is scheduled for Dec. 15 in Manhattan. Lawyers for the ebook buyers have said they “strongly believe” that Apple’s appeal won’t be successful.
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