Apple could have to pay $500 million in e-book price fixing case

screen-shot-2013-07-25-at-10-47-26-am1I am pretty sure most of you can remember the e-book price fixing case that Apple was involved in with the US Department of Justice, in which Apple was eventually found guilty. Well, as a result of that verdict, which Apple plans to appeal, it seems that it may be forced to pay nearly $500 million. Looking at the chart above, which was posted over on GigaOm, shows how the number was found, with a little explanation as well:

The chart shows that the publishers have paid out over $166 million so far. Earlier this month, a lawyer from Hagens Berman — the class action firm in the case — told my colleague Jeff Roberts that Apple would likely face a liability payment of harm to consumers times three, minus the $166 million already paid out by publishers. On Wednesday, Law360 reported (paywall) the same thing, calculating that if Apple loses its appeal it would face about $490 million in damages. I annotated the chart above with those figures.

As I said earlier, Apple will be appealing this, but it’s unclear if the ruling will be overturned or changed. The case started last year while iOS 6 was just being released as a beta, so with an appeal on the way, it could be awhile before this case sees a final end, just like the Samsung case Apple has been involved in for what seems like forever.

What do you think? Do you think Apple was guilty? Or do you disagree with the verdict? Let us know in the comments, or tweet me @TiP_Kyle.

 

Via: MacRumors, GigaOm

 

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