WASHINGTON—The U.S. Supreme Court on May 13 gave the go-ahead for a lawsuit by consumers accusing Apple Inc of monopolizing the market for iPhone software applications and forcing them to overpay, rejecting the company’s bid to escape claims that its practices violate federal antitrust law.
Apple shares were down about 5 percent after the justices, in a 5-4 ruling, upheld a lower court’s decision to allow the proposed class action lawsuit to proceed. The plaintiffs could seek billions of dollars in damages if they win on their claims that Apple required apps to be sold through its App Store and extracted an excessive 30 percent commission on purchases.
