The Justice Department, along with 16 state and district attorneys general, has filed an antitrust suit against Apple, accusing the tech giant of monopolizing the smartphone industry. This move comes as a response to allegations that Apple’s restrictions on iOS have led to higher prices for consumers. The suit also claims that Apple has hindered the development of “super apps” and cloud-streaming apps, limiting consumer choices.

During a recent news conference, Attorney General Merrick Garland emphasized the importance of enforcing antitrust laws to protect consumers from price hikes and lack of options. He stated that allowing Apple to strengthen its smartphone monopoly unchecked would not be in the best interest of consumers. The Justice Department is committed to upholding antitrust laws for the benefit of the American people.

Apple has responded to these allegations by defending its commitment to innovation and user experience. The company expressed concern that the lawsuit could hinder its ability to continue creating high-quality technology that users expect. Apple believes that this legal action sets a dangerous precedent by allowing government intervention in technology design.

Following this news, Apple’s shares have taken a hit in the stock market, with a significant drop recorded this morning. The stock price fell by $6.54 or 3.66% to $172.14 in response to the lawsuit.

This story is developing, so stay tuned for updates on this ongoing legal battle between Apple and the Justice Department. Stay informed about this important issue by checking back later for more information on how it unfolds.