You might remember that Apple teamed up with a bunch of publishers to raise eBook prices, and Apple had been appealing again and again and again the fact that they were found guilty. Well, today a federal court ruled that Apple orchestrated a conspiracy to raise eBook prices and as a result now owes $450 million:
By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in imposing an injunction to prevent a recurrence.
Writing for the majority, Circuit Judge Debra Ann Livingston said that by organizing the conspiracy, “Apple found an easy path to opening its iBookstore,” while ensuring that marketwide prices rose to a level that Apple and the publishers wanted.
But wait! We’re not done yet. It is entirely possible that Apple will yet again appeal. So you may want to watch this space to see what they do next.
UPDATE: Reuters has a story with a statement from Apple that says this:
“While we want to put this behind us, the case is about principles and values,” Apple said. “We know we did nothing wrong back in 2010 and are assessing next steps.”
I think that translates to “we’re going to appeal.”
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This entry was posted on June 30, 2015 at 1:20 pm and is filed under Commentary with tags Apple, Lawsuit. You can follow any responses to this entry through the RSS 2.0 feed.
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Apple To Serve Up $450 Million To Make eBook Troubles Disappear…. Maybe [UPDATED]
You might remember that Apple teamed up with a bunch of publishers to raise eBook prices, and Apple had been appealing again and again and again the fact that they were found guilty. Well, today a federal court ruled that Apple orchestrated a conspiracy to raise eBook prices and as a result now owes $450 million:
By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in imposing an injunction to prevent a recurrence.
Writing for the majority, Circuit Judge Debra Ann Livingston said that by organizing the conspiracy, “Apple found an easy path to opening its iBookstore,” while ensuring that marketwide prices rose to a level that Apple and the publishers wanted.
But wait! We’re not done yet. It is entirely possible that Apple will yet again appeal. So you may want to watch this space to see what they do next.
UPDATE: Reuters has a story with a statement from Apple that says this:
“While we want to put this behind us, the case is about principles and values,” Apple said. “We know we did nothing wrong back in 2010 and are assessing next steps.”
I think that translates to “we’re going to appeal.”
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This entry was posted on June 30, 2015 at 1:20 pm and is filed under Commentary with tags Apple, Lawsuit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.