February 3, 2014
WASHINGTON: A lawsuit filed against Apple has claimed damages worth $840 million, for allegedly conspiring with publishing companies for e-book price fixing.
Lawsuit filed against Apple Inc.
February 3, 2014
WASHINGTON: A lawsuit filed against Apple has claimed damages worth $840 million, for allegedly conspiring with publishing companies for e-book price fixing.
Lawsuit filed against Apple Inc.
The lawsuit that was filed in New York by Steve Berman, an attorney leading a class action lawsuit on behalf of eBooks customers in 33 states, argued that Apple owed American eBooks customers a bare minimum of $231 million in damages for raising the price of eBooks across the industry for its own benefit.
In his evidence against the company, the advocate referred to last year's US Justice Department's successful antitrust lawsuit against Apple in 2013.
It is alleged that following an increase in eBook prices from an average $9.99 to $12.99 dollars, Apple has been benefiting by taking 30% from each sale, The Verge reported.
The increase in prices is reported to have resulted in a 14.9% increase in sales.
Courtesy: ANI
