Thursday August 30, 2012

Publishers to Pay Back Millions Over Price Fixing Charges

Hachette Book Group, HarperCollins, and Simon & Schuster have reached a settlement with states in e-book price-fixing lawsuit and will collectively pay the states and ultimately the e-book consumers a total of $69 million dollars in compensation.

The same group of state attorneys general are continuing their price-fixing lawsuit against two other publishers, Macmillan and Penguin, and against distributor Apple, with a trial set for next year. As recently as two weeks ago, Apple filed a legal memo arguing that the proposed settlement was "fundamentally unfair."