Apple plans to ask the United States Supreme Court to overturn a federal judge's finding that it conspired to fix prices of ebooks when launching the iPad in January 2010, reports Fortune. The company says the case presents issues of 'surpassing importance to the United States economy.'
"This case . . . presents issues of surpassing importance to the United States economy," the company argues in papers filed with the high court Wednesday. "Dynamic, disruptive entry into new or stagnant markets—the lifeblood of American economic growth—often requires the very type of" conduct that Apple engaged in, the company argues, and which U.S. District Judge Denise Cote of Manhattan found to be illegal in July 2013.
Cote's ruling was upheld by the U.S. Court of Appeals for the Second Circuit in June by a 2-1 ruling. Following the ruling, Apple said, "While we want to put this behind us, the case is about principles and values. We know we did nothing wrong back in 2010 and are assessing next steps."
Apple has already worked out a contingent settlement in the case. If the Supreme Court denies to hear the case or if it upholds the judgement, Apple will pay $450 million.
In a motion filed on Wednesday, Apple requested a 30-day extension time for filing the formal submission to initiate the process to seek High Court review (petition for certiorari) until October 28th.
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"This case . . . presents issues of surpassing importance to the United States economy," the company argues in papers filed with the high court Wednesday. "Dynamic, disruptive entry into new or stagnant markets—the lifeblood of American economic growth—often requires the very type of" conduct that Apple engaged in, the company argues, and which U.S. District Judge Denise Cote of Manhattan found to be illegal in July 2013.
Cote's ruling was upheld by the U.S. Court of Appeals for the Second Circuit in June by a 2-1 ruling. Following the ruling, Apple said, "While we want to put this behind us, the case is about principles and values. We know we did nothing wrong back in 2010 and are assessing next steps."
Apple has already worked out a contingent settlement in the case. If the Supreme Court denies to hear the case or if it upholds the judgement, Apple will pay $450 million.
In a motion filed on Wednesday, Apple requested a 30-day extension time for filing the formal submission to initiate the process to seek High Court review (petition for certiorari) until October 28th.
You can follow iClarified on Twitter, Facebook, or RSS for updates.
Read More