Friday, May 22nd9.8°C
26329
25263

NY attorney general says e-book buyers getting settlement credits from publishers this week

ALBANY, N.Y. - Buyers of electronic books will get account credits this week from five publishers who reached settlements after states alleged they colluded to raise prices, New York's attorney general said Tuesday.

The $166 million national settlements were approved Dec. 6 and cover claims from April 1, 2010, to May 21, 2012. Buyers who bought certain e-books from Amazon, Barnes & Noble, Kobo or Apple will automatically get partial refund credits in their e-book accounts. Notification emails to eligible buyers were going out starting Tuesday.

The publishers are Hachette Book Group, HarperCollins, Simon & Schuster, Penguin Group and Holtzbrinck doing business as Macmillan. They denied wrongdoing but agreed to the settlement to avoid going to trial.

Refund amounts are $3.06 for New York Times bestsellers bought during the period and 73 cents for any other book.

"Illegal actions by these publishers forced consumers in New York and across the nation to pay artificially inflated prices for e-books," New York Attorney General Eric Schneiderman said Tuesday. "Companies engaging in such anticompetitive conduct will be punished, and starting today those injured by their actions will start to receive full and fair compensation."

HarperCollins and Penguin Group declined to comment. The other three publishers did not immediately reply Tuesday to requests for comment.

Thirty-three states accused the publishers of collusion, though the settlement covers all U.S. buyers. About $11.5 million is expected to go to buyers in New York, according to Schneiderman's office.

The settlements in federal court in Manhattan prohibit the publishers from continuing so-called agency agreements, in which publishers rather than retailers set prices for each title.

Buyers of e-books from Sony will automatically receive refund checks in the mail. Those who bought from other retailers and who filed a timely claim with the settlement administrator will get refund checks in the mail.

A judge last year at trial found Apple Inc. colluded with publishers to raise e-book prices. A second trial to decide damages is expected this year.

___

Online:

Settlements background:

https://ebooksagsettlements.com/

The Canadian Press


Read more Business News

26388


Recent Trending




Today's Market
S&P TSX15203.61+130.78
S&P CDNX700.51+5.09
DJIA18285.74+0.34
Nasdaq5090.79+19.05
S&P 5002130.82+4.97
CDN Dollar0.8161-0.0034
Gold1206.00+1.60
Oil57.45-1.98
Lumber268.90-0.70
Natural Gas2.905-0.044

 
Okanagan Companies
Pacific Safety0.135+0.010
Knighthawk0.010.00
QHR Technologies Inc1.45+0.00
Cantex0.03-0.01
Anavex Life Sciences0.372+0.032
Metalex Ventures0.09+0.01
Russel Metals25.82+0.02
Copper Mountain Mining1.41-0.02
Colorado Resources0.10-0.00
ReliaBrand Inc0.0097-0.0003
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.185+0.000
Decisive Dividend Corporation2.20+0.60

 



24947

FEATURED Property
20547971145 Thomas Road
5 bedrooms 3 baths
$485,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_





25482


Member of BC Press Council


24843