April 15, 2012

JUSTICE DEPT. ACCUSES APPLE AND OTHERS OF FIXING E-BOOK PRICES

Apple Inc. and other publishers have conspired to limit competition and fix the prices of e-books, the U.S. Justice Department alleges in a suit filed today.

According to The Wall Street Journal:

“The lawsuit, filed in Manhattan federal court by the U.S. Department of Justice’s Antitrust Division, alleges Apple and the publishers reached an agreement where retail price competition would cease, retail e-books prices would increase significantly and Apple would be guarantee a 30% ‘commission’ on each e-book sold.”

To read more about this, click here.