Apple to pay consumers up to $400 million in e-books case

Apple will pay up to $400 million to compensate consumers for illegal price-fixing conspiracy for electronic books, officials said Wednesday. The settlement would reimburse consumers in 33 states whose authorities sought damages for Apple's price-fixing, according to a statement from New York's attorney general.
But the settlement is contingent on the verdict being upheld in a July 2013 federal court ruling that Apple violated antitrust laws by orchestrating a conspiracy with five publishers to raise e-book prices. If Apple's federal conviction is overturned, no money will be paid. If the case is retried, the settlement amount will be $50 million, the statement said.