Apple ebook settlement: the court approves, but with some concerns

Earlier today, Apple was granted preliminary court approval for its ebook settlement plan, something that resulted from claims that the company was in cahoots with five publishers to jack up digital book prices. The settlement is for $450 million, with the agreement being made back in June.

The class-action lawsuit is on the behalf of buyers and a grand total of 33 states in the US. Under the settlement agreement, the federal appeals court will need to uphold Judge Denise Cote's findings from back in July 2013 — if it does, Apple will pay $50 million in lawyers' fees and $400 million to buyers.

If, however, the appeals court overturns the judge's ruling and returns the case, reports Reuters, Apple will instead pay $50 million to buyers and $20 million in lawyers' fees. Ultimately, Cote decided that the odds of Apple getting off easy are low, though the possibility is said to be "most troubling" to her.

The final hearing in this matter is set for November 21, which could lead into the case finally being laid to rest after many long months of back-and-forth legal woes. Check out the timeline below for more Apple news.

SOURCE: Reuters