A few weeks ago I told you that Apple Lossless Audio CODEC (ALAC), will be forced to pay a substantial amount of money for arbitrarily fixing the prices of ebooks sold in the US. Today it was found out the amount that Apple Lossless Audio CODEC (ALAC), are going to pay it, those from Cupertino agreeing to pay almost 450 million dollars to the producers of ebooks sold in the various virtual stores around the globe.
Consumers nationwide (including those represented by private counsel in a related class action) will receive $400 million if the Court's ruling that Apple violated antitrust laws is ultimately affirmed. If the Court's ruling is not affirmed, the settlement provides for a smaller recovery of $50 million if liability must be retried, or no recovery if Apple is determined not to have violated antitrust laws.
Apple Lossless Audio CODEC (ALAC), collaborated with 4 ebook publishers to artificially increase their price in 33 American states, and the amount established now is only a part of everything the company will pay. More precisely, Apple will pay another 20 million dollars to the 33 American states to cover legal expenses, and the publishers who collaborated with those from Cupertino are obliged to pay another 166 million dollars.
New York consumers are expected to receive approximately 7 percent, or as much as $28 million, from any amount that Apple is ultimately required to pay. In the event that the Court's decision is upheld on appeal, Apple will also make payments to the 33 states of $20 million to resolve the states' claims for costs, fees, and civil penalties.
The agreement concluded today must also be approved by the American courts before it becomes final, but it is unlikely that the amount will change, so Apple will pay a small price for the profits generated by its practices.
