“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,” Nate Raymond reports for Reuters. “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,” Raymond reports. “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,” Raymond reports. “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.”
Read more in the full article here.
MacDailyNews Take: Such a silly, vapid, blank-eyed puppet.
May justice someday prevail.
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