Apple settles e-book antitrust lawsuit


Apple (AAPL) has agreed to settle an antitrust lawsuit regarding e-book price fixing, effectively avoiding a trial. The case was filed by U.S. states and other complainants, hitting Apple with $840M in claims.

The lawsuit was connected to a case filed by the Justice Department in April 2012 that charged Apple and five American book publishers of conspiring to fix e-book prices and attempting to break Amazon's hold on the market with its Kindle.

The terms of the settlement, which still needs court approval, have not been disclosed.

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Comments (8)
  • CandleFlight
    , contributor
    Comments (828) | Send Message
     
    Good for them! Sometimes in other long drawn-out cases, it seems as if the board of directors for each entity needs adult supervision.
    17 Jun 2014, 03:15 AM Reply Like
  • kauaigene
    , contributor
    Comment (1) | Send Message
     
    Adult supervision of the United States Government...you have got to be kidding!
    17 Jun 2014, 03:51 AM Reply Like
  • Bad.example
    , contributor
    Comments (9) | Send Message
     
    Isn't it ironic that Apple and five publishers were smacked with "antitrust" fines for attempting to break Amazon's monopoly?
    17 Jun 2014, 04:32 AM Reply Like
  • csymalla
    , contributor
    Comments (245) | Send Message
     
    Or is it more ironic that you position a monopoly with competitors?
    17 Jun 2014, 07:37 AM Reply Like
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
     
    O-Hole and his buddy Holder are on a fine-collecting crusade. $10B here, $5B there......$840M seems hardly worth the effort.
    17 Jun 2014, 07:10 AM Reply Like
  • sabresfan21
    , contributor
    Comments (181) | Send Message
     
    Yeah the nerve of them targeting companies who are illegally squeezing consumers.
    17 Jun 2014, 10:32 AM Reply Like
  • pocohonta
    , contributor
    Comments (662) | Send Message
     
    the appeal for the original e-Book antitrust verdict still moves forward, so if the appellate court reverses it, then the states get nothing.
    17 Jun 2014, 01:06 PM Reply Like
  • brent_vossler
    , contributor
    Comments (276) | Send Message
     
    These companies were accused of lowering their prices.... Not raising them.
    16 Jul 2014, 05:01 PM Reply Like
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