July 17, 2014 9:31 AM

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Apple to pay $400mn to settle pricing lawsuit

Technology giant Apple has agreed to pay as much as 400 million dollars to settle a lawsuit into accusations that it colluded with publishers to fix the price of e-books. The settlement depends on Apple losing an appeal into a 2013 ruling that it violated anti-trust laws over pricing. That ruling found Apple orchestrated a conspiracy with five publishers to artificially raise e-book prices. Apple has continued to deny that it engaged in any wrongdoing. If approved by a judge, the 400 million dollars will go to consumers. Apple will pay an additional 20 million dollars in legal fees.

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