Bloomberg reports that Apple has received preliminary approval for the $450 million lawsuit settlement reached over its ebook pricing practices.
The settlement was first reached out of court about six weeks ago just before the case was set to go before a jury. Despite that development, Judge Cote in New York voiced concern over a clause in the settlement leading many to believe it may not receive approval, although she has since decided the settlement is appropriate. “The proposed settlement agreement is within the range of those that may be approved as fair and reasonable, such that notice to the class is appropriate,” Cote said according to Reuters.
The process follows a 2013 decision that Apple conspired with publishers to fix ebook prices, which it has since appealed. Final approval for the settlement will be decided in a hearing scheduled on November 21st.
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