A federal appeals panel has refused to disqualify a court-appointed monitor after a judge found Apple colluded with book publishers in 2010 to raise electronic book prices.
The 2nd U.S. Circuit Court of Appeals in Manhattan ruled against Apple Inc. Thursday. The three-judge panel concluded that a judge did not act improperly when she declined Apple's request to disqualify a monitor she had appointed to evaluate Apple's antitrust policies.
A lawyer for Apple, based in Cupertino, California, did not immediately respond to a request for comment.
The 2nd Circuit did not yet rule on a separate appeal in which Apple is challenging the judge's finding that it colluded with publishers.
After a 2013 civil trial, a judge ordered the technology giant to modify contracts with publishers to prevent price fixing.
Thursday, May 28, 2015
Wednesday, May 20, 2015
Swiss Bank UBS Pleading Guilty To Wire Fraud
Swiss bank UBS says it is pleading guilty to wire fraud and is paying $545 million to settle U.S. cases of market manipulation.
The bank said Wednesday that under the deal with U.S. authorities it will be granted conditional immunity from prosecution in a Department of Justice probe on the manipulation of foreign exchange rates. UBS AG said it was the first to report to the DOJ potential misconduct by banks in forex markets.
It will however pay a $342 million fine to the Federal Reserve.
It will separately pay a $203 million fine to the DOJ for manipulating a key market interest rate called the London Interbank Offered Rate.
The bank said "the conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions."
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