Amazon (AMZN) Execs Gird to Testify Against Apple (AAPL) in eBook Pricing Scheme
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Testify against Apple (Nasdaq: AAPL)? Certainly.
According to PaidContent.org, Apple filed a request to gain broader access to top eBook executives at Amazon.com (Nasdaq: AMZN), David Naggar and Russ Grandinetti. The duo have said they would "likely testify on the government's behalf" against Apple in a price-fixing case. Amazon also sought legal protection as early as 2010 due to "the existence of an illegal (possibly criminal) price-fixing conspiracy by the five publishers and one or more retailers."
The publishers have settled with the U.S. Department of Justice over antitrust issues already, while Apple is still holding out. The case revolves around Apple's popular iPad tablet and a way for publishers to offer a new commission-style pricing scheme to shut Amazon out unless the e-Commerce giant agreed to the new prices.
Shares of Apple are down about 1 percent Monday, while Amazon is up about a percent.
According to PaidContent.org, Apple filed a request to gain broader access to top eBook executives at Amazon.com (Nasdaq: AMZN), David Naggar and Russ Grandinetti. The duo have said they would "likely testify on the government's behalf" against Apple in a price-fixing case. Amazon also sought legal protection as early as 2010 due to "the existence of an illegal (possibly criminal) price-fixing conspiracy by the five publishers and one or more retailers."
The publishers have settled with the U.S. Department of Justice over antitrust issues already, while Apple is still holding out. The case revolves around Apple's popular iPad tablet and a way for publishers to offer a new commission-style pricing scheme to shut Amazon out unless the e-Commerce giant agreed to the new prices.
Shares of Apple are down about 1 percent Monday, while Amazon is up about a percent.
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