Tech Data, Apple face fines for anti-trust violations in France
March 17, 2020 - The French Competition Authority has fined Apple Inc. (Nasdaq: AAPL) and two of its distributors — Tech Data and Ingram Micro — in a case centered on distribution of Apple products. The French agency said Apple was guilty of anti-competitive behavior towards its distribution and retail network, according to a Reuters report. Apple was fined $1.2 billion, while Clearwater-based IT distributor Tech Data (Nasdaq: TECD) was fined about $85 million, and Ingram Micro was fined about $70 million. Both Apple and Ingram Micro said they would appeal the decision. Tech Data said it was still studying how to respond to the ruling, Barron's reported.