Apple settled out of court in the latest e-books price-fixing suit brought against the company, allowing the company to dodge an $840 million bullet, as reported by Bloomberg. The case, brought against the Cupertino company by multiple states and consumers, was set to go before a jury next month, but that will no longer be necessary.
The terms of the settlement have not yet been revealed, and the opposing sides of the case have one month to request formal acceptable of their agreement by the court.
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As those familiar with the case may recall, Apple was first accused of conspiring with top publishers to increase ebook pricing in its iBookstore and competing services like Amazon back in 2012. Last year, a federal court found that Apple had in fact colluded with publishers. Apple appealed the ruling, but decided to send affected customers iTunes credit anyway.
If today’s settlement is accepted by the court, an end to this case could finally be in sight, though Apple still plans to continue its appeal of the earlier ruling.