Supreme Court Rejects Apple eBooks Price-Fixing Appeal (reuters.com)

chasm22 writes: The Supreme Court on Monday declined to hear Apple Inc's challenge to an appellate court decision that it conspired with five publishers to increase e-book prices, meaning it will have to pay $450 million as part of a settlement. The court's decision not to hear the case leaves in place a June 2015 ruling by the New York-based 2nd U.S. Circuit Court of Appeals that found Apple liable for engaging in a conspiracy that violated federal antitrust laws. Apple, in asking the high court to hear the case, said the June appeals court decision that the company had conspired with the publishers contradicted Supreme Court precedent and would "chill innovation and risk-taking." The 2nd Circuit's ruling followed a 2013 decision by U.S. District Judge Denise Cote that Apple played a "central role" in a conspiracy with publishers to raise e-book prices. The Justice Department said the scheme caused some e-book prices to rise to $12.99 or $14.99 from the $9.99 price previously charged by market leader Amazon.com Inc. "Apple liability for knowingly conspiring with book publishers to raise the prices of e-books is settled once and for all," said Bill Baer, head of the U.S. Justice Department's antitrust division.
Perhaps Congress should change the price fixing laws... What about Amazon? Just trying to anticipate the response from Apple.

Comments

Re:Maybe now ebooks will be cheaper then paper?

[110010001000]

I know where you can get e-books for $0.

Can we just let the market work?

[trout007]

Reminds me of the Walter Block joke.

There are three prisoners in the U.S. They were all in jail for economic crimes of violating monopoly laws. First guy said that he charged higher prices than anyone else and the government then accused him of price gouging and profiteering. Second guy charged lower prices than anyone else and they accused him of predatory and cutthroat pricing. And the third guy said that he charged the same prices as everyone else and they accused him of collusion and price fixing.