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E-book Users to get Money Back from Publishers After Price-Fixing Lawsuit

States Attorneys General sued five publishers claiming that they conspired to fix and raise prices of E-books. The publishers will pay out $69 million to readers.

 

E-book readers may get back 30 cents to $1.32 for every book they purchased online between April 2010 and May 2012, according to the terms of a settlement announced Saturday by Amazon to its customers.

Book publishers Hachette, Harper Collins and Simon & Schuster settled an antitrust lawsuit that claimed they conspired to fix and raise prices of books sold online. The companies claimed no guilt, but paid $69 million to book buyers.

Lawsuits against Penguin, Macmillan and Apple are still pending.

Payments will be made either by check or store credit from the E-book retailers, which include Amazon, Apple, Barnes & Nobel and Kobo.

The suit alleged that the publishers unfairly took $136 million from buyers. The settlement of $69.04 million is a little more than half of that. Hachette will pay $31.71 million; Harper Collins, $19.58 million; and Simon & Schuster, $17.75 million.

For information on how to file for your credits, go here.

For answers about the suit, go to the FAQ here.

The suit was filed by attorneys general in 49 states, with Minnesota opting out. The settlement has a preliminary approval, but won't be finalized until a hearing Feb. 8, 2013, at which time Amazon has promised to let its customers know how much they will receive.

The hearing is at the U.S. District Court for the Southern District of New York, located at 500 Pearl Street, New York,and anyone is welcome to speak.

If you bought books from Amazon, Apple, Barnes & Nobel or Kobo, your account will automatically be credited if the court approves the settlement, or you can apply for a check.

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