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Where Are They Now?

Apple Loses E-Book Price Lawsuit, Faces Damages

A judge has just ruled that Apple is guilty of conspiring to raise e-book prices.

The federal antitrust suit against Apple over e-book pricing has come to a conclusion: The judge has decided that Apple conspired with five major book publishers to artificially push prices up.

Apple denied the charges and staged an aggressive defense against the case, arguing that Amazon exerted a stranglehold on the e-book market and was itself forcing artificial prices on the market.

Today's ruling is likely to be controversial, and has potential financial implications for Apple because the judge has said the company owes damages.

Update: Apple has issued a statement to AllThingsD:

Apple did not conspire to fix ebook pricing and we will continue to fight against these false accusations. When we introduced the iBookstore in 2010, we gave customers more choice, injecting much needed innovation and competition into the market, breaking Amazon’s monopolistic grip on the publishing industry. We’ve done nothing wrong and we will appeal the judge’s decision.

[Image: By Flickr user Anita Hart]

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