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Apple loses e-books appeal

A federal appeals court upheld a 2013 decision finding Apple conspired with publishers to raise e-book prices.

The U.S. court of appeals for the second circuit Tuesday ruled 2-1 Apple’s actions violated civil antitrust law, the Wall Street Journal reported.

Apple will now likely pay $450 million to e-book customers as part of an agreement the company reached in 2012. But the sum that will hardly cause a dent in the company’s balance sheet, amounting to less than 3 percent of its profit in the most recent quarter, the WSJ noted.

“We conclude that the district court correctly decided that Apple orchestrated a conspiracy among the publishers to raise ebook prices, that the conspiracy unreasonably restrained trade in violation of of the Sherman Act,” Judge Debra Ann Livingston wrote in a 117-page decision.