Federal Judges Rules that Apple Inc. Conspired to Raise Prices of E-Books Created by kblakeslee on 7/11/2013 3:00:55 PM
INDIANAPOLIS, Ind. (WOWO): A federal judge has ruled that Apple Inc. conspired with major U.S. publishers to artificially raise the prices of e-books.
The lawsuit was filed in U.S. District Court by the Department of Justice and 32 other states including Indiana. A DOJ investigation found prices were universally raised from $9.99 to $12.99 and $14.99 between the publishers. Apple in effect eliminated competition and netted a 30 percent commission.
The case includes publishers HarperCollins, Penguin Group as well as Simon & Schuster. Indiana Attorney General Greg Zoeller says it will mean $2.7 million dollars in refunds for Hoosiers and more than $166 million for consumers nationwide.