Reuters is reporting this morning that Apple today found itself the target of a 785-million-pound ($1 billion) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees.

The UK lawsuit at the Competition Appeal Tribunal is being brought by Sean Ennis, a professor at the Centre for Competition Policy at the University of East Anglia and a former economist at the OECD, on behalf of 1,566 app developers.

"Apple's charges to app developers are excessive, and only possible due to its monopoly on the distribution of apps onto iPhones and iPads," Ennis said in a statement.

"The charges are unfair in their own right, and constitute abusive pricing. They harm app developers and also app buyers."

 For more, read the full Reuters London report..