Today's unanimous judgment from the U.K. Court of Appeal has overturned the Competition Appeal Tribunal's (CAT) decision from March 2023.
This previous ruling supported Apple Inc's (NASDAQ:AAPL) appeal and suspended the Competition and Markets Authority's (CMA) investigation into cloud gaming markets concerning companies like the iPhone maker and Alphabet Inc (NASDAQ: ) (NASDAQ: ) Google.
However, Britain's antitrust body CMA's investigation remains on hold pending any appeal to the Supreme Court.
Sarah Cardell, CEO of the CMA, expressed that the ruling empowers the CMA to safeguard consumers and foster competition in the U.K.
She emphasized the importance of the investigation, launched over a year ago, to ensure U.K. consumers receive the best services and apps and to encourage U.K. developers to create innovative apps.
The case's background involves the CMA exercising its power under the Enterprise Act 2002 in November 2022 for a market investigation, which Apple challenged in March 2023.
The CAT initially ruled that the CMA had no authority to conduct such an investigation if it had previously decided against it during a related market study.
The Court of Appeal, however, found the CAT's interpretation incorrect, stating it could have severe implications for the CMA's role in promoting competition and protecting consumers.
The Court emphasized that while the Enterprise Act protects against undue investigatory burdens, its primary goal is to encourage competition and consumer protection.
Previously, Apple and Google emphasized their credibility and service quality, making them popular choices.
Price Action: AAPL shares traded lower by 0.52% at $188.39 on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.