NEW YORK: A US judge on Friday gave final approval to Apple Inc’s agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices.

During a hearing in Manhattan, US District Judge Denise Cote approved what she called a “highly unusual” accord. It calls for Apple to pay $400m to as many as 23m consumers if the company is unsuccessful in appealing a ruling that found it liable for antitrust violations.

The $400m comes on top of earlier settlements with five publishers in the case, which provided $166m for e-book purchasers.

Apple agreed to the settlement in June, ahead of a damages trial set for two months later in which attorneys general in 33 states and territories and lawyers for a class of consumers were expected to seek up to $840m.

Published in Dawn, November 23rd, 2014