Seeking Alpha

Apple sued for $840M over e-book pricing

  • State attorneys general and consumers have sued Apple (AAPL) for $840M over its e-book pricing.
  • The suit comes after District Judge Denise Cote ruled in July that Apple had manipulated prices in cohorts with five publishers.
  • Meanwhile, Apple is trying to halt the work of Michael Bromwich, a compliance monitor that Cote appointed to oversee the company following her ruling.
  • Separately, senior Apple executives have met FDA directors to discuss mobile medical applications. An FDA public calendar lists the participants in the meeting. Reports have said that Apple is developing a watch that will focus on health monitoring.
Comments (7)
  • rcpatrick5443
    , contributor
    Comments (678) | Send Message
     
    This is probably the worst Seeking Alpha posting I've ever seen. It blends news from last July, a vague group of litigants, an ineptly worded allusion to Apple's dispute concerning monitor Michael Bromwich (intrusiveness and high legal fees), and an unrelated reference to Apple's meetings with FDA directors. The icing on the cake is "manipulated prices in cohorts with five publishers." It's cahoots, guys!
    2 Feb, 04:37 AM Reply Like
  • OPie415
    , contributor
    Comments (151) | Send Message
     
    Agreed. You know he's grasping for anything when he trumpets a "watch" to keep his sheep herding going. It reminds me of a spam email where the guy raves about this surefire stock that is trading at only .0015. "When it goes to a dollar I can retire, lolol. For years Apple has sued it way forward to fund new products, when in fact, they ripped off others tech for years and gotten away with it. My personal "favorite" is the "swipe to open" they claim they came up with, when in fact another company had it a couple years earlier. We all know they price fixed the e-books, I'm just disappointed it took them so long to actually get off the pot and do something about it. I can see this stock going to 450, and it might be just market driven, but I'll wait.
    3 Feb, 03:13 PM Reply Like
  • hko2012
    , contributor
    Comments (238) | Send Message
     
    Obama will bail Apple out like he did when the iPhone 4 was banned in the US.
    2 Feb, 06:17 AM Reply Like
  • User 9158381
    , contributor
    Comments (4) | Send Message
     
    so many apple haters you have to ask why?? They didn't buy apple early enough...jealousy envy..???
    They own other stock in competitive companies...? Or for a multitude of other efforts to discredit the best.
    2 Feb, 10:56 AM Reply Like
  • JUDOKA
    , contributor
    Comments (406) | Send Message
     
    Where will AAPL ever get the money to pay off this extortion?
    3 Feb, 09:31 AM Reply Like
  • gtyler6261
    , contributor
    Comments (16) | Send Message
     
    petty cash, if they lose.
    3 Feb, 01:22 PM Reply Like
  • Mooch63
    , contributor
    Comments (2) | Send Message
     
    Shorts have been distorting APPL for as long as Microsoft, Google, Samsung, and others have been imitating Apple's work and innovation. What surprises me is that they've been so successful. Maybe they'll do a watch and maybe they won't. The fact that the imitators are now reacting so strongly and ineptly to rumors should mean more to us than it apparently does. The fact that it would be a mistake to recommend an Android phone over an iPhone for non-tech people should also send a strong message. I don't understand the hate. What would our worlds be like if there had never been an Apple? What would it be like if Microsoft and IBM had not won the early battles with their "imitations?" Does anyone else remember VisiCalc?
    3 Feb, 03:20 PM Reply Like
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