Apple fined by Chinese court

Investor's Business Daily

A Beijing court ordered the U.S. tech giant to pay a total of about $166,000 to 8 Chinese authors and 2 companies that say its online store distributed unlicensed copies of their works, Chinese media reported. The total fine was about 1 million yuan. Although the verdict was far less than the 10 million yuan that the plaintiffs had been seeking, Apple (AAPL) didn't say whether it planned to appeal. In a statement Apple said it takes copyright infringement complaints "very seriously." Shares fell 1.1% to 509.59.

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