04-11-12, 10:22 AM
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SUBSIM Newsman
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US sues Apple and publishers over e-book prices
Quote:
Technology giant Apple and major book publishers are being sued by the US Department of Justice over the pricing of e-books.
The US accuses Apple and Hachette, HarperCollins, Macmillan, Simon and Schuster and Penguin of colluding over the prices of e-books they sell.
This lawsuit is over the agency model where publishers set the prices of e-books, rather than sellers.
The lawsuit comes a day after Apple surpassed $600bn (£379bn) in value.
The increase affirmed its position as the world's most valuable firm."To effectuate their conspiracy, the publisher defendants teamed up with defendant Apple, which shared the same goal of restraining retail price competition in the sale of e-books," according to papers filed in New York's Southern District court on Wednesday morning.
"Apple facilitated the publisher defendants' collective effort to end retail price competition by coordinating their transition to an agency model across all retailers."
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http://www.bbc.co.uk/news/business-17681137
Note: 11 April 2012 Last updated at 15:18 GMT
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