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Stock impact report

Apple sanctioned in Qualcomm case for withholding documents [MSN Money]

Apple Inc. (AAPL) 
Last apple inc. earnings: 4/30 04:30 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.apple.com
Company Research Source: MSN Money
(Bloomberg) -- A judge granted sanctions against Apple Inc. for dragging its feet in turning over documents in the Federal Trade Commission’s lawsuit accusing Qualcomm Inc. of forcing the iPhone maker to use its chips exclusively. Quotes in the article U.S. Magistrate Judge Nathanael Cousins in San Jose, California, ordered Apple to pay $25,000 for each day that it fails to produce the evidence starting Dec. 16. Apple has until Dec. 29 to turn over the documents or face even steeper fines, according to a court filing late Thursday. Apple, which isn’t a party in the FTC suit, said in a filing this month that it had produced more than 2.6 million documents by the Dec. 15 deadline and any dispute Qualcomm wanted to raise was premature. The FTC suit alleges that Qualcomm unfairly cut out competitors by making Apple use only its chips in exchange for lower licensing fees. Apple representatives didn’t immediately respond to a request for comment on the Show less Read more
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