US Appeals Court rules that Apple conspired to fix e-book prices

Nearly two years ago, a US federal judge ruled that Apple conspired to raise prices on the ebooks it sold. A federal appeals court today upheld that judgement.

In a 2 to 1 vote, the 2nd US Circuit Court of Appeals agreed that the conspiracy violated antitrust law, and supported the previous judge’s injunction against Apple, which is expected to pay a $450 million fine.

A majority judge said that Apple’s price fixing helped ensure that prices throughout the ebook market rose to a level Apple and its co-conspirators – Hachette, HarperCollins, Macmillan, Simon & Schuster and Penguin – were happy with.

Meanwhile, Apple justified its actions by saying the pricing spurred competition and e-reader advances.

➤ Apple conspired to fix e-book prices: U.S. appeals court [Reuters]