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Uncategorized

Apple Faces DOJ Lawsuit: What Lies Ahead?

The U.S. Department of Justice filed a lawsuit against Apple Thursday, accusing the company led by CEO Tim Cook of engaging in anti-competitive business practices. The allegations include claims that Apple prevents competitors from accessing certain iPhone features and that the company’s actions impact the “flow of speech” through its streaming service, Apple TV+. This is not the first time Apple has faced legal action from the DOJ. In 2012, the agency sued Apple for conspiring with publishers to increase ebook prices, a lawsuit that was not settled until 2016. Morgan Stanley analysts said Friday that the current lawsuit could also favor Apple, as many similar allegations have already been ruled on by a judge in the Apple vs Epic case, with the ruling stating that Apple does not violate antitrust laws.

Ava Patel
March 22, 2024

Startups

Ola Electric from India: A $662 Million IPO Proposal

India’s Ola Electric seeks to raise $661.8 million in an initial public offering, the Bengaluru-headquartered startup said in draft papers filed with the country’s market regulator on Friday. The paperwork for the initial public offering follows Ola Electric raising $384 million from Temasek and Indian government-backed lender State Bank of India in a debt-heavy funding round in late October. Led by Aggarwal, Ola Electric emerged out of the ride-hailing giant Ola in 2019. He is also the Chairman and Managing Director of ANI Technologies Private Limited and has recently founded a new startup, Krutrim SI Designs Private Limited. His involvement with ANI Technologies Private Limited and Krutrim SI Designs Private Limited may detract from the time that he is able to dedicate to our Company,” the prospectus added.