Apple violated antitrust laws by colluding with publishers to raise electronic book prices when it entered a market in 2010 that had been dominated by Amazon.com, a divided federal appeals court panel said Tuesday.
A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan ruled 2-to-1 that a lower-court judge correctly found Apple Inc. violated the law to upset Amazon.com Inc.’s control of the market… READ MORE
The iPhone maker is expected to pay $450 million, most of it to e-book consumers, as part of a November agreement with private plaintiffs and 33 states that joined the Justice Department’s 2012 lawsuit accusing Apple of violating civil antitrust law. The deal hinged on the outcome of the appeal. The penalty amounts to less than 3% of the Cupertino, Calif., company’s profit in the quarter that ended in December… READ MORE