At long last, the ongoing legal drama surrounding Apple's e-book antitrust violations is seemingly behind us. Reuters reports that Judge Denise Cote recently approved a proposed US$450 million settlement agreement that will see Apple fork over cash to upwards of 23 million consumers provided that Apple's appeal falls through.
Apple initially agreed to a $450 million settlement this past July only to have Judge Cote state that the terms of the proposed settlement agreement were troubling. The reason? Well, there are a few.
For starters, Cote wasn't keen on Apple not having to pay interest on the damages amount during the appeals process. Further, Cote was similarly leery of the fact that Apple wouldn't be liable for any damages if her decision regarding Apple's alleged collusion with publishing houses was overturned.
Examples of Cote's seeming bias against Apple have been well documented, so it's finally nice to see cooler heads prevail. A settlement agreement, if ultimately needed, is in place, and now all eyes will be on Apple's appeal.
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