Apple was found guilty of conspiring with 5 major publishers to increase the prices of e-books last summer but so far hasn’t been put in the position to write a single check. This could change soon thanks to a newly-filed damages claim. Steve Berman, an attorney representing consumers and 33 states who linked up with DoJ’s case against Apple, says the company’s actions caused e-book buyers to spend an extra $280,254,374 and wants that tripled. Bloomberg reported the following:
State attorneys general and consumers who sued the world’s most valuable technology company over its e-book pricing are seeking $280 million in damages and want that amount tripled, a lawyer for them said in a filing yesterday with the federal judge in Manhattan who presided over the U.S. case against Apple.
The plaintiffs say they’re entitled to triple damages under antitrust law because the U.S. had already “conclusively proven” at a trial last year that Apple orchestrated a conspiracy to fix prices. The amount sought is 0.5 percent of the $158.8 billion in cash that the Cupertino, California-based company reported that it had as of the end of 2013.
The plaintiffs say they’re entitled to triple damages under antitrust law because the U.S. had already “conclusively proven” at a trial last year that Apple orchestrated a conspiracy to fix prices. The amount sought is 0.5 percent of the $158.8 billion in cash that the Cupertino, California-based company reported that it had as of the end of 2013.
In the meantime, Apple seems to have a lot of other things on their plate as well. Next month, the company is set to face Samsung in the second round of its Northern California patent infringement battle. Apple ended up winning the first round, netting nearly $1 billion in damages. We’ll have to wait and see what happens going forward.
Source: Bloomberg
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