This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hagens Berman: Judge Grants Class Certification In Apple E-Books Antitrust Case And Excludes Apple’s Expert Opinions

National consumer-rights law firm Hagens Berman Sobol Shapiro LLP announced today that a federal judge handed down two rulings that add to Apple’s (NASDAQ:AAPL) legal woes in its attempt to defend itself of charges the company conspired to illegally inflate the price of e-books.

The rulings, issued by senior U.S. federal Judge Denise Cote, granted the class certification for consumers who sued Apple for conspiring with five publishers to fix e-book prices, and in a separate ruling, tossed out the bulk of arguments made by Apple’s two economists, who were attempting to reduce the amount of money Apple owes to injured consumers.

In an earlier court ruling, a federal judge declared that Apple – the sole remaining defendant – was liable in the price-fixing case. A trial likely set for this summer will determine the damages Apple will pay consumers.

“We are thrilled about what the certification means for consumers – with automatic trebling they could see a judgment of between $750 to $850 million,” said Steve Berman, managing partner of Hagens Berman and lead attorney for the e-books litigation and class action against Apple. “Apple has remained stalwart, and the company’s goal has been shown clear – to eliminate pro-consumer pricing in favor of higher corporate profit.”

In a recently settled case against five book-publishing companies that conspired to raise and fix e-book prices and violated national antitrust laws, all other defendants settled out except Apple. Penguin Group (USA) Inc.; Hachette Book Group Inc.; HarperCollins Publishers LLC; Simon & Schuster Inc.; and Holtzbrinck Publishers, LLC, d/b/a Macmillan, all reached a settlement on behalf of consumers, leaving Apple the only remaining defendant, as the company has denied allegations of liability and objected to the certification of the class.

In the 86-page document granting class certification, Judge Cote stated, “This is a paradigmatic antitrust class action. If certification were not appropriate here, no antitrust class action could be certified.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs