Sunday, September 7, 2014

Apple shareholders sued Tim Cook due eBooks

Last month, Apple has agreed to pay $ 450 million in an action for conspiring with five major book publishers in the United States for the purpose of fixing the price of e-books. However, this does not solve the problem of California's giant associated with this process. Tim Cook and a number of top-manager of the company got sued by shareholders who considered them guilty of long-term trial.
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Around the book catalog Apple, as you know, was a scandal related to the fact that the company overstated the prices of books, earning "excess" of what was supposed to. Justice Department filed a corporation and publisher Harper Collins, Simon & Schuster, Hachette, Macmillan and Penguin suit in April 2012, accusing them of conspiring to fix prices on e-books online store iBooks Store in the United States.
Last year, the court ruled that Apple as part of this conspiracy violated the antitrust laws. It is for the decision maker the iPhone in August agreed to pay $ 450 million. Fulfillment of these conditions by the company also depends on the decision the Court of Appeals in New York, which may either increase the amount of the fine, or even cancel it.
Despite the fact that Apple is guilty of conspiring denied, though, and agreed to pay "compensation", the shareholders considered Tim Cook guilty of this conflict and sued the company.
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The plaintiffs argue that top managers consciously entered into on behalf of Apple agreements with publishers who violate the antitrust laws of the State of California and the United States. According to them, thereby artificially devalued Apple executives and the company misled investors. Financial claims of the plaintiffs are not specified.
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