NEW YORK — Apple Inc. milked the popularity of its iTunes store to form an illegal cartel with publishers to raise electronic book prices, a federal judge decided in a case swayed by the words of the late Steve Jobs.
Wednesday’s ruling by U.S. District Judge Denise Cote in Manhattan sided with government regulators’ contention that Apple joined five major book publishers to gang up Amazon.com in a price-fixing conspiracy that caused consumers to pay more for electronic books.
The Cupertino, Calif., company vowed to appeal the decision, extending a legal odyssey that could wind up in the U.S. Supreme Court.
In other news
A GROUP OF 17 North American retailers and clothing makers has agreed to a five-year pact aimed at improving safety conditions at Bangladesh factories that seeks to spread accountability across a wide spectrum from the local government to factory owners. As part of the pact, the group – which includes Wal-Mart Stores Inc., Gap Inc. and Target Corp. – agreed to inspect all the factories within a year and set up basic safety standards within three months.