According to reports Apple has reached a settlement on the e-books antitrust case that has been going on for some time, getting out of the damages lawsuit for the sum of $800 million.
Originally the lawsuit for the damages was scheduled to begin on July 14th, but if reports are true than the company won’t have to worry about it for much longer.
Reports state that the total damages for the case are somewhere around $840 million, but the final total is yet to be decided by the US District Judge, Denise Cole, who ordered both parties to file for approval of the settlement within the next 40 days.
“As set forth in the memorandum of understanding, any payment to be made by Apple under the settlement agreement will be contingent on the outcome of that appeal,” Steve Berman of Hagens Berman Sobol Shapiro, the plaintiffs’ lead lawyer, wrote in a letter to the judge.
As of yet the actual some is yet to be confirmed, as the two parties have yet to agree on the number, however if they do it could be good news for Apple, as it will mean that they will skip a trail that could go on for some time, something they don’t want to do after the length of the Samsung copyright case.
Also given that Apple’s cash reserves are hardly lacking, this is obviously the best possible outcome for the company. If it is confirmed we will update you.