Apple Has Lost e-Book Price Fixing Appeal; Will Have to Pay $450 Million

Apple will be paying a $450 million settlement for conspiring to raise e-book prices, after the U.S. Court of Appeals upheld the 2013 decision that found guilty of fixing eBook prices in a conspiracy with five publishers.

After the ruling in 2013, all of the publishers involved in the case chose to settle out of court. Only Apple continued on to appeal the decision. Now, Apple's literally paying the price, Bustle noted.

"Apple did not conspire to fix e-book pricing and this ruling does nothing to change the facts. We are disappointed the Court does not recognize the innovation and choice the iBooks Store brought for consumers," an Apple spokesperson told Time. While we want to put this behind us, the case is about principles and values. We know we did nothing wrong back in 2010 and are assessing next steps," said Apple in a statement.

The decision was made with a 2-1 majority.

We are expecting the next step will likely be another appeal.