Apple Chief to Testify In Epic Games' Antitrust Lawsuit: FT

Apple Inc AAPL chief Tim Cook will testify as a prime witness for Fortnite maker Epic Games’ antitrust lawsuit against the iPhone maker’s alleged illegal monopoly, the Financial Times reports.
Epic prosecuted Apple for perpetrating monopoly via the App Store, leading to the removal of Fortnite from their mobile app stores. Apple defended the removal citing Epic’s violation of the App store terms by bypassing the 30% fee and introducing its in-app payment system.
Emails revealed in the discovery process proved Apple’s reluctance in allowing the company’s iMessage app on Android phones. Another correspondence disclosed an Apple executive supporting the idea of selling ads on the App Store that contradicted Cook’s philosophy. Epic-backed experts claimed the App Store of enjoying a margin of 78% via monopoly. Apple has refuted the claims.
Tim Cook defended the App Store at a Congressional hearing last month. Cook welcomed “reasonable and appropriate” scrutiny but would “make no concession on the facts.”
Apple has attracted heightened regulatory scrutiny in Washington and Brussels, where Epic also continued to protest.
Price action: AAPL shares traded higher by 0.47% at $127.91 in the premarket session on the last check Friday.