As the world anticipates the next generation of iStuff, Apple is settling a class-action lawsuit on fixing e-book prices. According to a filing with the New York court in Manhattan, Apple reached an ... more 
As the world anticipates the next generation of iStuff, Apple is settling a class-action lawsuit on fixing e-book prices. According to a filing with the New York court in Manhattan, Apple reached an agreement with the states and consumers involved in the suit. A trial in the case had originally been slated to start in mid-july. The Department of Justice, 33 states and territories as well as individual consumers had sued Apple for coordinating with five top U.S. publishers to raise e-book prices. The publishers, which included HarperCollins, Hachette Book Group, Penguin, Macmillan and Simon & Schuster, previously agreed to settle the charges for $166 million. Apple, however, always argued that its way of setting the price is not illegal. But, in July 2013, a federal judge found Apple in violation of the antitrust law. Now with an out-of-court settlement, the two sides have 30 days to submit an agreement. less 
1 / 28
TheStreet
Tue, Jun 17, 2014 4:09 PM EDT