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Market Chatter: Apple Faces UK Class Action Claims Over App Store Commission Fees
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Market Chatter: Apple Faces UK Class Action Claims Over App Store Commission Fees
Dec 3, 2024 4:34 AM

07:01 AM EST, 12/03/2024 (MT Newswires) -- Apple ( AAPL ) is facing a repayment of as much as 785 million British pounds ($994.4 million) to as many as 13,000 developers for charging up to 30% of commission fees on App Store sales, Bloomberg News reported Tuesday, citing a professor leading the class action lawsuit.

From July 25, 2017, Apple ( AAPL ) charged commission fees on UK-based app developers selling their apps through the App Store or to iOS device users, reportedly creating an anticompetitive tax on the country's tech industry, UK competition policy professor Sean Ennis alleged in court filings.

Apple ( AAPL ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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