Apple stock fell after a judge ruled in favor of Epic Games

11 September 2021 11.09.2021
4193
2 min.
2 connections
Apple stock fell after a judge ruled in favor of Epic Games

The situation of Apple shares after the trial

Apple's share price fell more than 2% after the tech giant won a court order on Friday in a legal battle with Fortnite creator Epic Games.

With the ban, developers using the company's App Store will be able to enter metadata into the app "buttons, external links and other actions"and"in addition to in-app purchases, they will also be able to direct customers to a purchase mechanism."

In addition, Apple can no longer prohibit developers from communicating with customers through contacts they voluntarily obtain through the account registration built into the app.

The order, which will go into effect on May 12, comes from Epic Games last year, announcing plans to introduce its own in-app game billing system to avoid Apple paying 30% fee.In in response to the motion, Apple removed Fortnite from the App Store and offers limited access to your iOS developer account.In in response, Epic filed a lawsuit in the anti-monopoly law, alleging that Apple was using the App Store to stifle competition and maintain a monopoly position in the app market.

Interestingly, although Apple won 10 out of 9 cases, it was recognized as anti-competitive under the State of California's Unfair Competition Prevention Act.

However, the court can only ultimately conclude that Apple Inc. it is a monopoly under federal or state antitrust laws.

From 2020 to 208, Epic Games would pay 30% of all revenue generated by Fortnite's direct payment system.

Prior to this decision, Apple Inc. the shares were traded at a record high of.1 per share at$154.30.

Apple sees the decision as a"big win"and says it is"very happy".

A spokesman for Epic Games, meanwhile, acknowledged that it plans to appeal the decision as a complaint.

"Today's decision is not a win for developers or consumers. We are fighting for fair competition for integrated payment methods and app stores for 10 billion consumers," tweeted the CEO of Epic Games.

Companies2 in the news

Section

Related news

Love Survives the Flames Heidi Montag is embracing gratitude in the aftermath of a fire that reduce...
9 January 2025
Stars Unite Amid Flames A massive wildfire in Los Angeles has brought chaos to the city, disrupting...
8 January 2025
Hollywood Harassment Showdown The ongoing legal battle between actress Blake Lively ...
7 January 2025
Heartbreak in Hollywood Jeff Baena, a celebrated indie filmmaker known for his offbe...
5 January 2025
Marc Blucas’ Rustic Retreat Actor Marc Blucas has carved out a unique life far from the ...
29 December 2024

Last news

Police Drop Probe British authorities will take no further action against Andrew Mountbatten-Windso...
14 December 2025
A Tender Goodbye Amy Schumer’s final public nod to Chris Fischer came quietly — and nostalgic...
13 December 2025
Liam Neeson Pushes Back Liam Neeson is pushing back against claims that he has aligned himself with...
12 December 2025
Deposition Drama Erupts Lil Wayne is back in the headlines after a deposition meant to address an o...
10 December 2025
Reinventing Gwyneth Again Gwyneth Paltrow and Jacob Elordi reunited on camera for Variety CNN&rsquo...
9 December 2025
Melissa’s Snowy Surprise Melissa McCarthy sparked a wave of astonishment during her sixth tur...
8 December 2025

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8261605408
Died this year
56721706
Born this year
139545436