Apple reaches settlement on eBook price fixing

[6charlong]

An article in the Wall Street Journal (http://online.wsj.com/articles/apple...wpisrc=nl_swbd) reports that a settlement has been reached. The Government was asking to have Apple monitored to prevent this behavior in future but several States joined the action and they want money.

The plaintiffs had been seeking $840 million from Apple, claiming that the company overcharged consumers by $280 million for e-books and that it should have to pay three times that amount. An Apple spokeswoman declined to comment.

The details of the settlement are sealed pending review by the Court.

Edited to add link to older discussion:

This announcement is also discussed on MR here: https://www.mobileread.com/forums/sho...=236633&page=5 beginning on page 64.

[JSWolf]

I hope Apple has to really pay a lot. They screwed up majorly what was a good thing. We had better prices and more places to shop. I would love it if Apple was barred from selling eBooks.

[SteveEisenberg]

Originally Posted by JSWolf

I hope Apple has to really pay a lot.

Those evil Apple stockholders must be punished. How dare they not have voted against the board of directors slate!

I would love it if Apple was barred from selling eBooks.

It's not just books. They also force their hardware retailers to charge a minimum price. So why not bar them from selling everything they sell today but won't let retailers discount?

Of course, I don't really want any of this. As far as I can see, any real punishment would hit hardest against people who had nothing to do with the conspiracy.

[fjtorres]

Microsoft raised the price of Windows $10 when they were fined a half billion in Europe for bundling a media player in Windows 2.1 and newer...

Apple will do the same.
Forcing them to spin off iBooks would've been a more appropriate remedy (and in line with the eleventh commandment) but they haven't annoyed the judge enough yet and the traditional punishment for price fixing is hefty fines.

[SteveEisenberg]

Originally Posted by fjtorres

Forcing them to spin off iBooks would've been a more appropriate remedy (and in line with the eleventh commandment) . . .

What eleventh commandment are you referring to?

[fjtorres]

Originally Posted by SteveEisenberg

What eleventh commandment are you referring to?

"Thou shalt not get away with it", of course.

Right at the top of the third tablet:

http://www.youtube.com/watch?v=4TAtRCJIqnk

[tubemonkey]

Originally Posted by fjtorres

"Thou shalt not get away with it", of course.

Right at the top of the third tablet:

http://www.youtube.com/watch?v=4TAtRCJIqnk