(AAPL) Apple faces US$1 bn UK lawsuit by apps developers over app store fees | Forexlive

Apple is facing a class action lawsuit brought by more than 1,500 apps developers in the UK over App Store fees.

• brought by Sean Ennis, a professor at the Centre for Competition Policy at the University of East Anglia, on behalf of 1,566 app developers
• “Apple’s charges to app developers are excessive, and only possible due to its monopoly on the distribution of apps onto iPhones and iPads”
• “The charges are unfair in their own right, and constitute abusive pricing. They harm app developers and also app buyers.”

Reuters link for a little more.

One for the equity & equity index folks.