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Apple Settles in Price-Fixing Class Action Lawsuit
Apple has reached a settlement in price-fixing class action lawsuit.
The company faced more than $800 million in damages. The terms of the settlement have not been disclosed and the agreement is pending court approval.
The case was scheduled to go to trial in July. Now, Apple is allowed to avoid that trial.
Consumers in more than 30 states sued the tech giant for teaming up with publishers and raising the price of iPad e-books.
It started with one of the biggest lawsuits in the book world in 2012. That was when the feds brought antitrust charges against apple and several publishers on the same issue.
Apple lost that case but plans to appeal the decision, going all the way to the Supreme Court, if necessary.