Apple Might Have to Cough Up $450 million in ebook antitrust case

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In a latest development, the US Supreme Court has declined to hear Apple’s challenge to an appellate court decision that it conspired with five publishers to increase ebook prices. The implication is said, that it would have to cough up pay $450 million as part of a settlement.
It is to be mentioned, that the court’s decision not to hear the case leaves in place a June 2015 ruling by the New York-based 2nd US Circuit Court of Appeals that favoured the US Department of Justice and found Apple liable for engaging in a conspiracy that violated federal antitrust laws.

Apple, in its petition asking the high court to hear the case, said the June decision by the 2nd US Circuit Court of Appeals in New York upholding a judge’s ruling that Apple had conspired with the publishers contradicted Supreme Court precedent and would chill innovation and risk-taking.

On February 17, the appeals court in New York upheld the proposed settlement, which had been challenged by an ebooks purchaser.
Apple did not immediately respond to requests for comment.
The Justice Department accused Apple of colluding with the five publishers as the Silicon Valley giant was launching its iPad in early 2010 and was seeking to break up Amazon.com’s low-cost dominance in the digital book market

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