Apple Facing $840 Million Damages Claim Over E-Book Pricing
Published on: 3rd Feb 2014
Note -- this news article is more than a year old.
Apple could be facing lawsuits and anti trust claims totaling USD840 million related to its controversial e book selling programme.
The company is seeking a court hearing as it tries to overturn a court appointed monitor which was imposed on the company as part of a legal agreement last year when the company was found to have manipulated the retail price of electronic books.
"The monitorship the district court imposed on Apple is unprecedented, impermissible and unconstitutional," Apple said in an appeals court filing.
The company is now also being sued for USD280 million in damaged by US State Attorneys and consumer groups. In a new filing they are seeking to have those damages tripled.
They argue that last year's settlement proves that Apple has behaved in an illegal manner and that the court should press ahead with awarding the damages.
Apple is appealing.
If Apple loses, while the sums of money are large, they would still be barely a rounding error in Apple's huge USD158 billion cash pile.