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Apple Stock Plunges 5% After Supreme Court Deals iPhone Maker a Crushing Blow

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By CCN: Apple stock plunged more than 5 percent on Monday after the Supreme Court ruled 5-4 against the consumer electronics giant in a case revolving around its App Store. The decision will open the doors to an antitrust suit against the company, brought by iPhone users. Supreme Court Findings a Blow to The Embattled Company Consumers of Apple’s iPhone are now able to pursue an antitrust lawsuit against the company. The lawsuit claims that Apple’s 30 percent commission on sales made through the App Store is an abuse of monopoly power. The Supreme Court was unconvinced of Apple’s argument

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* First published on ccn.com

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