DOJ Warns Apple on Collusion for E-Book Pricing
NEW YORK (TheStreet) -- Apple(AAPL) may be the subject of an antitrust lawsuit for colluding with e-book publishers to raise prices on e-books, according to sources close to the matter.
A lawsuit may still be avoided as several of the parties may try to settle out of court. This could lead to cheaper prices for e-books, potentially, said sources close to the situation.
The story was first profiled in The Wall Street Journal.
Including Apple, five book publishers are also included in the potential lawsuit. Simon & Schuster, a division of CBS(CBS) ; Penguin Group, a division of Pearson(PSO) ; French book publisher Hachette Book Group; Macmillan, a division of Verlagsgruppe Georg von Holtzbrinck GmbH; and HarperCollins Publishers, a division of News Corp.(NWSA) .
E-book pricing has also been an issue for Apple in Europe as well as the United States. In late 2011, the European Commission launched a probe into whether Apple and these same five publishing houses raised prices for e-books illegally in 2010.
Apple couldn't immediately be reached for comment for this story.
Apple shares were up 1.3% in Thursday trading to $537.57.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New York
>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.
>To submit a news tip, send an email to: firstname.lastname@example.org