US sues Apple, publishers over e-book prices

US sues Apple, publishers over e-book prices
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First Published: Wed, Apr 11 2012. 09 52 PM IST

Updated: Wed, Apr 11 2012. 09 52 PM IST
The US filed an antitrust lawsuit Wednesday against Apple Inc. and five of the nation’s largest publishers, alleging they conspired to limit competition for the pricing of e-books.
The lawsuit, filed in Manhattan federal court by the US department of justice’s antitrust division, alleges that Apple and the publishers reached an agreement where retail price competition would cease, retail e-books prices would increase significantly and Apple would be guaranteed a 30% “commission” on each e-book sold.
Three of the publishers have agreed to settle, according to court documents. Those are Hachette Book Group, Simon & Schuster and HarperCollins Publishers Inc.
Click here to read the full story.
The Wall Street Journal
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First Published: Wed, Apr 11 2012. 09 52 PM IST
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