A New York judge has ruled that Apple conspired with major publishers to raise electronic book prices higher than they otherwise should have been.
Federal Court Judge Denise Cote rejected the argument presented by Apple's lawyer Orin Snyder that a guilty verdict would set a "dangerous precedent." The judge concluded the company had indeed conspired with a half-dozen book publishers when it got into the e-book market in 2010.
Among the accusations brought forth by the Department of Justice were that Apple's behaviour directly led to the end of Amazon.com's policy of selling e-books for $9.99.
"Apple did not want to compete with Amazon (or any other e-book retailer) on price," the ruling reads. "And the publisher defendants wanted to end Amazon’s $9.99 pricing and increase significantly the prevailing price point for e-books."
"With a full appreciation of each other’s interests, Apple and the publisher defendants agreed to work together to eliminate retail price competition in the e-book market and raise the price of e-books above $9.99," the judge wrote.
Read more: Apple guilty of e-books price fixing - Business - CBC News
Showing posts with label price-fixing. Show all posts
Showing posts with label price-fixing. Show all posts
9/30/10
Airline Industry - Airline cartel including Air France, KLM, Martin Air faces huge EU damages claim - by Nikki Tait and Jane Croft
A group of companies led by Philips of the Netherlands and Ericsson of Sweden will allege they have suffered more than €400m ($545m) of damage as a result of price-fixing by KLM, Martinair and Air France. Lawyers advising the companies, however, say the total sum is likely to top €500m once interest is included.
International competition watchdogs have been investigating a worldwide cartel, based around air freight traffic rates for the past four years. In countries such as South Korea, Australia, Canada and the US, almost two dozen airlines – including KLM, Air France and Martinair – have admitted involvement in illegal activities going back to 2000 and faced substantial financial penalties as a result. Air France and KLM merged in 2004, but retain separate legal identities.
For more: FT.com / Companies / Airlines - Airline cartel faces huge EU damages claim
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