New York: Apple won preliminary approval of a settlement in which it could pay $450 million to resolve claims by US states and consumers that it led a conspiracy to fix prices on electronic books.
US District Judge Denise Cote in Manhattan said that there's "probable cause to find that the proposed settlement agreement is within the range of those that may be approved as fair and reasonable."
Under the agreement, Apple will pay $400 million plus $50 million in attorneys' fees if a federal appeals court agrees with Cote that the Cupertino, California-based company violated US antitrust laws. If Apple wins the appeal, it pays nothing under the settlement.
The agreement calls for Apple to pay $50 million plus $20 million in attorneys' fees if the appeals court sends the case back to Cote for a retrial.
The judge ruled last year in a case filed by the United States Justice Department that Apple conspired with five of the biggest publishers to fix e-book prices in response to competition from Amazon.com. The parties announced the settlement in June, weeks before a damages trial in which Apple would have faced claims of as much as $674 million, according to Cote.