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Updated Jul 16, 2014 - 1:19 pm

Arizona to get cut of e-book settlement with Apple

PHOENIX -- Arizona Attorney General Tom Horne unveiled on Wednesday a proposed settlement with Apple Inc. related to the company's participation in an e-book price-fixing.

The proposed agreement aims to resolve claims for damages brought by Arizona and 32 other states, as well as the states' civil penalty claims.

The agreement still remains subject to approval by the U.S. District Court for the Southern District of New York. If the court's ruling is upheld, consumers across the U.S. will receive a total of $400 million.

Last July, the District Court found that Apple had violated the antitrust laws by conspiring with five publishers to artificially raise prices for e-books between 2010 and 2012.

Horne said in a release he is pleased with the settlement, which will provide consumers with over twice their actual damages when combined with previous publisher settlements.

Five publishers have already compensated e-book purchasers around the country through a $166 million settlement.

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