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Stockreport

Apple faces UK ‘iCloud monopoly' compensation claim worth $3.8 billion [TechCrunch]

Apple Inc. (AAPL)  More Company Research Source: TechCrunch
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
The collective proceeding lawsuit , which is seeking £3 billion in compensation damages (around $3.8 billion at current exchange rates), alleges that Apple has broken competition rules by giving its own cloud storage service preferential treatment and effectively locking people into paying for iCloud at “rip-off” prices. “iOS has a monopoly and is in control of Apple's operating systems and it is incumbent on Apple not to use that dominance to gain an unfair advantage in related markets, like the cloud storage market. But that is exactly what has happened,” Which wrote in a press release announcing filing the claim with the U.K.'s Competition Appeal Tribunal (CAT). The lawsuit accuses Apple of encouraging users of its devices to sign up to iCloud for photo storage and other data storage needs, while simultaneously making it difficult for consumers to use alternative storage providers — including by not allowing them to store or back-up all of their phone's data with a third-party [Read more]
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Stockreport

Apple faces UK ‘iCloud monopoly' compensation claim worth $3.8 billion [TechCrunch]

Apple Inc.  (AAPL) 
More Company Research Source: TechCrunch
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
The collective proceeding lawsuit , which is seeking £3 billion in compensation damages (around $3.8 billion at current exchange rates), alleges that Apple has broken competition rules by giving its own cloud storage service preferential treatment and effectively locking people into paying for iCloud at “rip-off” prices. “iOS has a monopoly and is in control of Apple's operating systems and it is incumbent on Apple not to use that dominance to gain an unfair advantage in related markets, like the cloud storage market. But that is exactly what has happened,” Which wrote in a press release announcing filing the claim with the U.K.'s Competition Appeal Tribunal (CAT). The lawsuit accuses Apple of encouraging users of its devices to sign up to iCloud for photo storage and other data storage needs, while simultaneously making it difficult for consumers to use alternative storage providers — including by not allowing them to store or back-up all of their phone's data with a third-party [Read more]
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EVENT TIME:
AAPL
Last Price
Price Change
Price Change %
Volume Shares
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Volume Ratio
%
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Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
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High:
Low:
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%
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%
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%
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%
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TICKS
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EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS