engine - 2:08 pm on Jul 10, 2013 (gmt 0)
In a decision that could reshape how books are sold on the Internet, a federal judge ruled that Apple Inc (AAPL.O) conspired to raise the retail prices of e-books in violation of antitrust law, and called for a trial on damages.
The decision by U.S. District Judge Denise Cote in Manhattan is a victory for the U.S. government and various states, which the judge said are entitled to injunctive relief.U.S. Judge Rules Apple Conspired to Raise e-book Prices [reuters.com]
Cote said the conspiracy resulted in prices for some e-books rising to $12.99 or $14.99, when Amazon had sold for $9.99.
"The plaintiffs have shown that the publisher defendants conspired with each other to eliminate retail price competition in order to raise e-book prices, and that Apple played a central role in facilitating and executing that conspiracy," Cote said.