Apple (AAPL) Could Pay ~$1B in iPod Antitrust Class Action

Apple (Nasdaq: AAPL) is heading back to court over allegations that it abused its position in the digital-music segment.

Reuters reported that opening statements are slated to begin today in an Oakland, Cali., federal court.

Apple could pay upwards of $1 billion should it lose the class action suit.

The suit covers individuals and businesses that bought Apple iPods between 2006 and 2009. Allegations center around an iTunes update with the devices, which would only allow iTunes music to be play on the devices, effectively blocking competition.

While plaintiffs are seeking around $350 million in damages, the number could be automatically tripled under antitrust laws.

Shares of Apple are lower in early trading.

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