San Francisco, CA -
Apple has lost its case before U.S. District Judge Denise Cote, which ruled that Apple had violated the Sherman Antitrust Act when it engaged in e-book sales agreements with publishers.
In Short; Amazon had began selling e-books below cost to spur sales of its newly released Kindle e-reader in 2007, which was successful. Publishers began fearing a $9.99 e-book price would become entrenched and they would be unable to raise prices in the future. Amazon e-book sales then overtook printed book sales by a wide margin.