Since 2013, Apple has been embroiled in litigation surrounding the price fixing of ebooks found within its iBooks Store. Now, after three years of court hearings and everything in between, Apple’s lost its appeal.
Apple officially filed for the appeal of the initial court ruling in February of 2014. Apple has remained within the courts, battling this issue, ever since 2013 in an attempt to, at the very least, mitigate the damages that the Cupertino-based company would have to pay out. Unfortunately for Apple, a federal appeals court has denied the company’s appeal of the ruling, and issued a number as far as damages go.
Apple will have to pay out $450 million in damages, most of which will be going to ebooks customers. That number is part of the settlement that Apple agreed upon last year, and was finalized by the courts near the end of 2014.
Here’s what the Second Circuit Judge Debra Ann Livingston had to say regarding the ruling:
“We conclude that the district court correctly decided that Apple orchestrated a conspiracy among the publishers to raise e-book prices,” Livingston explained. The conspiracy “unreasonably restrained trade” in violation of the Sherman Act, the federal antitrust law, she noted.“
Apple actually began sending out iTunes Store credits to those who purchased ebooks through the iBooks Store, even as its appeal was still pending.