The Supreme Court ruled against Apple Inc. on May 13, green-lighting a class-action lawsuit against the company that litigants accuse of illegally monopolizing…
The Supreme Court ruled against Apple Inc. on May 13, green-lighting a class-action lawsuit against the company that litigants accuse of illegally monopolizing the market for iPhone software applications and forcing consumers to overpay.
The justices ruled that consumers were entitled to their day in court but didn’t express an opinion on the merits of the antitrust lawsuit itself.
The ruling already is sending send shock waves through Silicon Valley and the world of electronic commerce.
On the day of the decision, shares in the Cupertino, California-based tech giant fell almost 6 percent by the close of the market to $185.72, sliding $11.46.
In oral arguments on Nov. 26,2018, the company and the Trump administration took the position that iPhone owners lacked legal standing to sue under federal antitrust laws, on the theory that they are purchasing apps directly from developers, with Apple acting merely as the developers’ agent.
