Jonathan Kanter, the Assistant Attorney General for Antitrust at the Department of Justice, advised Apple shareholders to advocate for a culture of fair competition within the company. His remarks come in the wake of the government’s lawsuit against Apple, alleging anticompetitive practices in the smartphone market.
Kanter emphasised the importance of competition for businesses, consumers, and the economy. While Apple faces potential distractions and risks due to the lawsuit, experts caution that prolonged litigation could divert executive focus from core business objectives.
1. Jonathan Kanter, DOJ’s top antitrust official, encourages Apple shareholders to promote fair competition within the company.
2. Kanter’s message follows the government’s lawsuit against Apple, accusing it of anti competitive behaviour in controlling the smartphone market.
3. Emphasising the benefits of competition, Kanter states that it is advantageous for businesses, consumers, and the overall economy.
4. Apple has responded to the lawsuit, asserting that it threatens the company’s identity and sets a dangerous precedent.
5. Analysts predict that Apple may seek dismissal of the lawsuit, but warn of the potential distraction and scope of prolonged litigation.
6. Following the announcement of the lawsuit, Apple’s shares experienced a 4% decline on Thursday, stabilising with marginal movement on Friday.
