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Tuesday, December 2, 2014

Stock Alerts - Apple heads to trial over iTunes update -12/2/2014

Apple heads to trial over iTunes update

  • Opening statements for Apple's (NASDAQ:AAPL) antitrust trial are scheduled to begin today in a federal court in Oakland, California.
  • Plaintiffs are accusing the iPhone maker of breaking antitrust rules in 2006 with an iTunes update and are seeking $350M in damages, a sum which would automatically be tripled to over $1B under antitrust laws.
  • Apple says the software update contained genuine product improvements, and thus should not be found anti-competitive.

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