Apple has been targeted by multiple new consumer class action lawsuits accusing the company of “monopolizing the smartphone market,” piggybacking on an antitrust case lodged by the U.S. Justice Department last week. Mike Scarcella for Reuters: ‎ At least three proposed class actions have been filed since Friday in California and New Jersey federal courts by iPhone owners who claim Apple inflated the cost of its products through anticompetitive conduct. The lawsuits, seeking to represent millions of consumers, mirror the Justice Department’s claims that Apple violated U.S. antitrust law… Apple has denied the government’s allegations. The Cupertino, California-based company did not immediately respond to a request for comment on the consumer lawsuits. Support MacDailyNews at no extra cost to you…

CNBC’s Jim Cramer this week threw cold water on the U.S. DOJ’s antitrust case against Apple, calling this action a buying opportunity for AAPL stock. Julie Coleman for CNBC: ‎ “The decision by the Justice Department to go against Apple will end up like any of the myriad analysts who’ve gone from buy to hold on Apple’s stock during my time,” he said. “It’s creating still one more buying opportunity, because the regulators, they ain’t got nothing for you.” [T]o Cramer, the DOJ hasn’t found any “smoking guns” that implicate Apple as a guilty party. Cramer maintained that this lawsuit creates a buying opportunity for the stock. “I just got a whole brand spanking new reason to buy Apple, don’t…

The U.S. DOJ’s Apple case is wrong on the facts and law and should never have been brought, said legal experts who weighed in on the government’s perplexing claims. Mike Scarcella for Reuters: ‎ The U.S. government’s antitrust lawsuit against Apple… may prove to be an imperfect blueprint for addressing smartphone competition… and the government as a result may face a tougher time in taking on Apple, legal experts said. The Department of Justice, along with 15 state governments, accused Apple of unlawfully monopolizing the smartphone market through restrictions on app developers that curb choice and innovation, which it said forces consumers to pay higher prices. Apple said the government is wrong on the facts and law. The government has…

The U.S. DOJ on Thursday sued Apple, accusing the consumer electronics giant of violating antitrust laws, adding to the growing list of bad news accumulating on the stock this year. Patrick Seitz for Investor’s Business Daily: ‎ The lawsuit alleges that Apple’s conduct makes it harder for Americans to switch smartphones, undermines innovation for apps, and imposes extraordinary costs on developers, businesses and consumers… “Consumers should not have to pay higher prices because companies violate the antitrust laws,” Attorney General Merrick Garland said in a news release. MacDailyNews Take: The average app price in the Apple App Store as of January 2024 is 79-cents. So, according to the U.S. DOJ’s Merrick Garland, apps that on average cost considerably less than…

The U.S. Justice Department (DOJ), joined by 16 other state and district attorneys general, on Thursday filed a civil antitrust lawsuit against Apple for monopolization or attempted monopolization of smartphone markets in violation of Section 2 of the Sherman Act. U.S. Justice Department: ‎ The complaint, filed in the U.S. District Court for the District of New Jersey, alleges that Apple illegally maintains a monopoly over smartphones by selectively imposing contractual restrictions on, and withholding critical access points from, developers. Apple undermines apps, products, and services that would otherwise make users less reliant on the iPhone, promote interoperability, and lower costs for consumers and developers. Apple exercises its monopoly power to extract more money from consumers, developers, content creators, artists,…

The U.S. Justice Department is reportedly preparing an antitrust lawsuit aimed at forcing Apple to open up many aspects of its ecosystem. (via Cult of Mac - Apple news, rumors, reviews and how-tos)