Apple Facing $450 Million Fine After E-Book Price Fixing Appeal Is Denied

The company is still insisiting that it did nothing wrong, but it looks like Apple's ongoing fight against charges it conspired with publishers to fix e-book prices could finally be drawing to a close. As The Wall Street Journal reports, a US appeals court has upheld a 2013 district court ruling that ruled Apple had indeed "orchestrated a conspiracy among the publishers to raise e-book prices."

As the WSJ notes, the publishers involved have all settled their respective cases, and Apple itself reached an agreement in November of last year to pay a $450 million fine to settle the case ($400 million of which would go to customers). That agreement has only been awaiting the outcome of the appeal, but Apple apparently isn't ready to accept the verdict just yet.

In a statement, the company says that "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." Whatever those next steps are, however, even a $450 million payout would barely make a dent in Apple's billions in cash it has on hand.

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