Apple’s $450 million e-book settlement has been approved

A federal judge on Friday approved a settlement in which Apple could begin paying $400 million to as many as 23 million consumers related to charges that it violated antitrust law by conspiring with publishers to raise e-book prices and thwart efforts by Amazon. In the hearing on Friday, Judge Denise L. Cote of Federal District Court in Manhattan approved an unusual settlement reached this summer in which Apple agreed to pay $400 million to consumers in cash and e-book credits, and $50 million to lawyers. Those figures could still change, however, if an appeals court overturns a 2013 verdict in the case, in which Apple was found to have conspired with five major publishers to fix the price of e-books. The court, which will hear Apple’s challenge on Dec. 15, is not expected to change its previous ruling. In the event the court overturns the verdict and returns the case to Judge Cote, Apple would pay $50 million to consumers and $20 million to the lawyers.