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Apple could be slapped with $490 million bill for eBook price-fixing debacle

Apple found guilty of eBook price-fixing, faces a fine worth $490 million

| Business, Financial & Legal News | Posted: Jul 26, 2013 11:23 am

Apple have been caught conspiring to fix eBook prices, something that might cost the iPhone maker $490 million. A lawyer from Hagens Berman, the lead class action firm involved in the case told GigaOM that Apple could pay three times' the publishers' total liabilities.

 

TweakTown image news/3/1/31952_03_apple_could_be_slapped_with_490_million_bill_for_ebook_price_fixing_debacle.jpg

 

This is minus the $166 million that the publishers have agreed to pay in separate settlements, but brings the total to be sucked out of Apple's cash piles to be $490 million. Considering they have just spent $16 billion buying their own shares - because, you know, they've been tanking pretty hard lately - this is nothing but a drop in the ocean to them.

 

Kind of like one of us mere mortals dropping $1 on the street from our wallet filled with $100 notes.

NEWS SOURCE
Bgr.com

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