A U.S. judge who ruled that Apple Inc. conspired to raise e-book prices has imposed new restrictions on the iPhone and iPad company this week, limiting its set agreements with select publishers.
U.S. District Judge Denise Cote also announced that she would appoint an external monitor to overlook Apple's antitrust compliance polices, training, and procedures for at least two years, according to Reuters.
Cote said in a press statement recently that she wanted it her decision to "rest as lightly as possible on how Apple runs its business."
The U.S. Justice Department was looking for a broader injunction however that could have affected Apple's agreements with companies that provide music, TV shows, and movies.
Five different publishers, which have all settled with regulators, include Penguin Random House LLC, News Corp's HarperCollins Publishers LLC, Lagardere SCA's Hachette Book Group Inc., CBS Corp's Simon & Schuster Inc and Verlagsgruppe Georg von Holtzbrinck GmbH's Macmillan.
The U.S. Justice Department was reportedly "happy" with the injunction.
"Consumers will continue to benefit from lower e-book prices as a result of the department's enforcement action to restore competition in this important industry," said Assistant Attorney General Bill Baer said in a press statement.
The terms of the ruling expires after five years, but Cote's decision allows for extensions in one-year increments, according to Reuters.
Apple plans on appealing the injunction however.
"Apple did not conspire to fix e-book pricing," said company spokesman Tom Neumayr, according to Reuters. "The iBookstore gave customers more choice and injected much-needed innovation and competition into the market."
Apple's shares increased 0.6 percent to $498.22 despite the news on Sept. 6.
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