Apple Loses Ebook Price Fixing Appeal, Must Pay $450 Million

An anonymous reader writes: A federal appeals court ruled 2-1 today that Apple indeed conspired with publishers to increase ebook prices. The ruling puts Apple on the hook for the $450 million settlement reached in 2014 with lawyers and attorneys general from 33 states. The Justice Dept. contended that the price-fixing conspiracy raised the price of some e-books from the $10 standard set by Amazon to $13-$15. The one dissenting judge argued that Apple’s efforts weren’t anti-competitive because Amazon held 90% of the market at the time. Apple is unhappy with the ruling, but they haven’t announced plans to take the case further. They said, “While we want to put this behind us, the case is about principles and values. We know we did nothing wrong back in 2010 and are assessing next steps.”

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