• The European Consumer Organization (BEUC) lobby group supported the European Union’s antitrust case against Apple Inc (NASDAQ: AAPL) for alleged distortion of competition in the music streaming market, Reuters reports based on BEUC publication.

  • The antitrust lawsuit followed Spotify Technology SA’s (NYSE: SPOT) initial complaint against the iPhone maker in April 2021.

  • Apple has refuted the allegations and credited its App Store for Spotify’s success. Apple has 12 weeks to respond.

  • BEUC’s joining as an interested third party in the antitrust regulator’s case could lead to a penalty of up to 10% of Apple’s global turnover and force a change to its business practices.

  • BEUC acknowledged its joint efforts with the E.U. to ensure the access of a full range of music streaming services to the European customers without any unfair restriction or artificially inflated prices.

  • Price action: AAPL shares traded lower by 0.02% at $124.26 on the last check Wednesday.

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