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Apple Settles After Admitting to eBook Conspiracy

The illiterate public is outraged after learning that Apple conspired with five publishers to aggressively raise eBook prices. At a hearing in Manhattan, U.S. District Judge Denise Cote approved a settlement from Apple, priced at the hefty sum of $450 million. If Apple isn't able to appeal the ruling, the company will have to pay out $400 million to consumers and $50 million to lawyers for its central role in the violation of antitrust laws.

In its attempt to thwart its rival Amazon.com, and engage in eBook price-fixing, Apple worked with multiple publishers: Hachette Book Group Inc, HarperCollins Publishers LLC,... (read more)

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