The iPhone maker, Apple has reportedly agreed to settle out of court with consumers who claimed that the company is conspiring to raise the price of e-books.
Attorney Steve Berman, who represented the plaintiffs, had argued that Apple should pay $840 million, or triple the amount he estimated the company gained from hiking ebook prices. The trial was set to go to court next month, The Verge reported.
However the terms of the settlement have not been made public.
The US Department of Justice sued Apple and five other publishers in April 2012, accusing them of working together illegally to raise e-book prices.
The complainants are seeking up to $840 million in damages for e-book customers. The exact amount of damages was to be litigated at a trial scheduled for July 14.
