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Apple Says Government's E-Book Pricing Suit 'Fundamentally Flawed' -Reuters

DOW JONES NEWSWIRES Apple Inc. (AAPL) said in a court filing that the U.S. government's lawsuit against the company concerning e-book pricing is "fundamentally flawed," Reuters reported Wednesday. Last month, the government sued Apple and five e-book publishers, alleging they conspired to raise prices and block Amazon.com Inc. (AMZN) from selling e-books at $9.99. Three publishers settled the suit. Macmillan, a unit of Verlagsgruppe Georg von Holtzbrinck GmbH (VGH.YY), and Pearson PLC's (PSON.LN) Penguin Group declined to join the settlement. Apple said in the filing that the government incorrectly characterized a comment about the e-book market attributed to Steve Jobs, Reuters reported. The company said: "Apple's entry into e-book distribution is classic procompetitive conduct," Reuters reported. Full story at http://www.reuters.com/article/2012/05/23/apple-ebooks-idUSL1E8GND3220120523 -Dow Jones Newswires; 212-416-2900

Stock News for Amazon.com (AMZN)
DateTimeHeadline
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