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In June 2013, after a three-week bench trial, Judge Denise Cote of the U.S. District Court for the Southern District of New York held that Apple Inc. committed price fixing in violation of Section 1 of the Sherman Act when it agreed with five book publishers to raise the retail price of e-books. The case was brought by the U.S. Department of Justice and 33 states, and was subsequently consolidated with several class-action lawsuits. With the trial on damages scheduled for May 2014, Apple’s exposure could reach into the hundreds of millions of dollars, in addition to ongoing oversight by a government-appointed monitor. The publishers settled before the trial for approximately $170 million.

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