Here are some of the developments in antitrust news this past week that we found interesting and are following.
Four Apple contractors accuse Qualcomm of antitrust violations. iPhone chip supplier Qualcomm Inc. faces a new set of antitrust allegations from a group of four companies that assemble the iPhone and other products on behalf of Apple Inc. Foxconn parent Hon Hai Precision Industry Co., Wistron Corp, Compal Electronics Inc and Pegatron Corp alleged that Qualcomm violated two sections of the Sherman Act, a U.S. antitrust law. The accusations, made in a filing late on Tuesday in U.S. District Court for the Southern District of California, are counterclaims to a Qualcomm lawsuit filed in May seeking to force the contractors to pay Qualcomm license fees that Apple directed them to stop paying.
Deutsche Bank, JPMorgan to Pay $148 Million to End Yen Libor Cases in U.S. Deutsche Bank AG and JPMorgan Chase & Co. have agreed to pay a combined $148 million to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates. The preliminary settlements, totalling $77 million for Deutsche Bank and $71 million for JPMorgan, were detailed in filings late Friday in the U.S. District Court in Manhattan, and require a judge’s approval. They followed similar settlements last year with Citigroup Inc. and HSBC Holdings Plc totalling $23 million and $35 million, respectively.
U.S. judge rejects class actions over Internet music prices. A Manhattan federal judge on Tuesday said consumers accusing several big music companies of conspiring to inflate prices of music sold over the Internet and on compact discs cannot pursue their claims in class actions. U.S. District Judge Loretta Preska’s 89-page decision is a victory for Sony Corp., Vivendi SA’s Universal Music Group, Warner Music Group and various affiliates in the 11-year-old lawsuit, which the judge said has been delayed by extensive disputes over evidence. Consumers accused the defendants of taking unfair advantage of their 80 percent share of the U.S. market for online music, and that by making such music “less attractive” to buy were able to drive up CD prices.
Qualcomm loses appeal against EU threat of daily fine. U.S. chipmaker Qualcomm faces the threat of a daily fine of 580,000 euros ($665,000) for failing to provide EU antitrust regulators with information after losing an appeal against the penalty in a European Union court on Monday. Qualcomm, which was charged by the European Commission for using anti-competitive methods to squeeze out British phone software maker Icera, last month asked the Luxembourg-based General Court to suspend the order. The Commission welcomed the court verdict, while Qualcomm declined to comment.