Apple Inc. reached a settlement with U.S. states and consumers seeking damages over the company’s fixing of electronic book prices, avoiding a July trial in which it faced as much as $840 million in claims.
The Bernard Madoff trustee, who will try to reinstate hundreds of lawsuits through an appeal to be argued March 5 in Manhattan, had his chances of success dealt a blow last week when the U.S. Supreme Court decided a case involving R. Allen Stanford’s Ponzi scheme.
Apple Inc., which faces as much as $840 million in state and consumer antitrust claims stemming from an electronic books lawsuit, lost its bid to halt oversight by a court-appointed compliance monitor.
Apple Inc. antitrust monitor Michael Bromwich may continue his court-ordered duties after a judge rejected a bid by the computer maker to stop him from seeking out interviews with top company officials. Bromwich, a former U.S. Justice Department inspector general, was appointed in October to oversee the company’s compliance with terms of an electronic books price-fixing ruling. U.S. District Judge Denise Cote ruled Apple “played a central role” in the scheme and that it broke antitrust laws in its contracts with five of the six biggest book publishers.