Wednesday, April 11, 2012

FOXNews.com: US reportedly files suit against Apple, publishers over e-book price-fixing

FOXNews.com
FOX News Network - We Report. You Decide. // via fulltextrssfeed.com
US reportedly files suit against Apple, publishers over e-book price-fixing
Apr 11th 2012, 14:19

The US Department of Justice (DOJ) filed an antitrust lawsuit against Apple and several publishers over alleged collusive behavior in e-book pricing, The Wall Street Journal reported Wednesday.

The DOJ alleges that Apple and publishers "conspired to limit pricing competition," according to the report.

The suit claims that the conspiracy caused consumers to pay "tens of millions of dollars" more for e-books, the WSJ added.

Shares in Apple held on to solid gains of 0.9 percent following the report, trading up to $634.12.

The lawsuit comes a day after the stock hit a fresh all-time high in intraday trade of $644 a share, giving the company a market capitalization above $600 billion for the first time.

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