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Penguin to Pay $75M in eBook Pricing Class Action Settlement

This is a settlement for the Antitrust lawsuit.

Seattle, WA: Book publisher Penguin has agreed to pay $75 million to settle an ebook pricing class action lawsuit, making it the last of the major publishers to settle. HarperCollins, Simon & Schuster, Hachette and Macmillan have all settled with both the states and the Department of Justice (DOJ). Penguin settled with the DOJ several months ago. Apple, also a defendant in the class action, is going to court in a few weeks and will face the DOJ over antitrust pricing allegations.

Under the terms of the proposed settlement Penguin would pay $75 million to consumers represented by 33 states' attorneys general. The settlement is pending court approval, and a fairness hearing is scheduled for late summer.

Penguin' settlement with the consumers and states is the largest to date. HarperCollins, Hachette and Simon & Schuster settled together for a combined $69 million, while Macmillan agreed to pay $20 million.

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Published on May-22-13


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