By Nate Raymond NEW YORK (Reuters) - A U.S. judge on Thursday expressed concern over a proposed $450 million settlement of claims Apple Inc conspired with five publishers to fix e-book prices, saying its provisions could drastically reduce money paid to consumers depending on appeals. U.S. District Judge Denise Cote in Manhattan said she found "most troubling" a clause requiring Apple to pay only $70 million if an appeals court reversed her finding that the company is liable for antitrust violations and sent it back to her for further proceedings. Speaking on a teleconference, Cote questioned if that would be fair and what might happen if the appeals court reversed her ruling on a minor issue. She also took issue with the lack of any requirement for Apple to pay interest while the appeals go forward. "I'm concerned about the terms of the settlement," she said. The comments came a week after 33 U.S. states and territories and lawyers for a class of consumers submitted the settlement for Cote's preliminary approval, and to avoid a scheduled Aug. 25 damages trial. Cote scheduled the trial after ruling last July that Apple was liable for colluding with publishers to impede e-book competitors such as Amazon.com Inc. The publishers include Lagardere SCA's Hachette Book Group Inc, News Corp's HarperCollins Publishers LLC, Penguin Group (USA) Inc, CBS Corp's Simon & Schuster Inc and Verlagsgruppe Georg von Holtzbrinck GmbH's Macmillan. Cote's ruling came in an April 2012 lawsuit by the U.S. Department of Justice and the state attorneys general. These plaintiffs were expected to seek up to $840 million in damages but reached settlements in which the publishers would provide $166 million to e-book purchasers, reducing Apple's exposure to $674 million. The size of the Apple settlement depends on the outcome of the company's appeal of Cote's liability finding to the 2nd U.S. Circuit Court of Appeals. If Apple loses its appeal, it would pay $400 million to consumers and $50 million to the states and plaintiffs' lawyers. In contrast, if Apple's appeal is successful but the 2nd Circuit returns the case to Cote for further proceedings or a new trial, the company would pay just $70 million, with $50 million for consumers. If the 2nd Circuit reversed Cote outright and ended the case, Apple would pay nothing. On Thursday's call, Cote expressed concern that the middle scenario might be unfair to consumers by undervaluing their claims. Steve Berman, a lawyer for the consumers, told her that such an outcome would result in a "much bleaker universe" for his clients. "We thought given that unlikely scenario and the legal risk we would face it would be a good outcome for consumers," he said. After the call ended, Berman said the parties would consider Cote's concerns. Apple did not respond to a request for comment. The case is In Re: Electronic Books Antitrust Litigation, U.S. District Court for the Southern District of New York, No. 11-md-02293. (Reporting by Nate Raymond in New York; Editing by Cynthia Osterman)
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting
The 22-year-old was last seen in Grand Teton National Park, near where a body was found on Sunday, according to reports.
It looks like they're someplace steamy.
Family travel vloggers share video they believe shows Gabby Petito and Brian Laundrie's van around time of her disappearance
Jenn Bethune said she found the footage, which was recorded by her husband accidentally on August 27, at 1 a.m. Sunday.
Is Louis going to be big brother someday? 👀
Police say they're investigating an unconfirmed picture of a man who looks a 'heck' of a lot like Brian Laundrie
Brian Laundrie, the boyfriend of the missing 22-year-old YouTuber Gabby Petito, has also been missing as of Tuesday, his lawyer said.
- LA Times
Moderna's COVID-19 vaccine does a significantly better job of preventing COVID-19 hospitalizations compared with Pfizer's shot.
- Yahoo Life
The "Basic Instinct" star hit the beach in a black halter-style suit.
- The Week
McConaughey leads Abbott in Texas poll as O'Rourke inches closer
- Yahoo Sports
"It's not f***ing about you! We're here to play baseball!"
- Charlotte Observer
Kyle Larson won NASCAR’s Cup race at Bristol on Saturday night, but four drivers saw their playoff hopes dashed. Here’s who was cut from the field Saturday night.
- Yahoo Finance
Almost one third of all working age men in America aren’t doing diddly-squat. They don’t have a job and they aren’t looking for one either. How do they live? What are they doing for money? To me, this is one of the great mysteries of our time.
- Niners Wire
The #49ers shook off a slow start to beat the Eagles. Here's what we know in the immediate aftermath of the win.
- NBC Sports
Tyler Reddick, Aric Almirola, Kurt Busch and Michael McDowell each were eliminated from the Cup playoffs.
- Washington Examiner
The cybersecurity lawyer indicted this week by a grand jury in special counsel John Durham's investigation could end up being the "fall guy" for Hillary Clinton's 2016 campaign, warned a top House Republican.
- Good Housekeeping
It hasn't premiered yet and there's already tension.
- NBC News
The suspect was taken into custody after shooting a 23 year-old man, a 19 year-old woman, and a 16 year-old boy.
From individual drinks to workout classes and laundry, passengers should avoid spending money on several things, according to a crew member.
Three tourists were arrested after allegedly assaulting a New York City restaurant hostess when she asked for proof of their vaccination status before they could be seated indoors, the New York Times reports. The latest: On Saturday, lawyers for the restaurant and the three women revealed that the tourists had in fact shown proof of vaccination and been allowed into Carmine's Italian restaurant, according to the Times.Stay on top of the latest market trends and economic insights with Axios Marke
- Associated Press
Clemson and Ohio State slipped to the back of the top 10 in The Associated Press college football poll on Sunday and Penn State jumped four spots to No. 6 after another weekend in which lots of ranked teams had issues. The defending national champion Crimson Tide remained an overwhelming No. 1 after holding on to beat Florida 31-29, Alabama's closest margin of victory during its current 17-game winning streak. No. 2 Georgia, which had no problem with South Carolina, received the other three first-place votes in the AP Top 25, which is presented by Regions Bank.
- ProFootball Talk on NBC Sports
Last year in Week Seven, Browns receiver Odell Beckham Jr. suffered a season-ending injury while trying to make a tackle after an interception. Today, Browns quarterback Baker Mayfield suffered an injury while trying to make a tackle after an interception. Mayfield suffered an apparent arm/shoulder injury on his left side. He jogged to the locker [more]