Wednesday, December 17th0.2°C
24124
23875

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

24380


Recent Trending




Today's Market
S&P TSX14213.88+352.36
S&P CDNX659.00+16.65
DJIA17356.87288.00
Nasdaq4644.312+96.477
S&P 5002012.89+40.15
CDN Dollar0.8592+0.0004
Gold1200.40+6.10
Oil56.47-0.02
Lumber337.20+3.00
Natural Gas3.678-0.024

 
Okanagan Companies
Pacific Safety0.125+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27+0.04
Cantex0.03-0.005
Anavex Life Sciences0.1659-0.0241
Metalex Ventures0.05-0.005
Russel Metals27.18+1.03
Copper Mountain Mining1.54+0.11
Colorado Resources0.105-0.005
ReliaBrand Inc0.0199+0.0065
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.22+0.02

 
23744


24153

FEATURED Property
215593028-2355 Marshall Rd
2 bedrooms 2 baths
$79,999
more details
image2image2image2
Click here to feature your property
Please wait... loading


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...


Housing prices to skyrocket?

As most of you know, this column was started with a focus on Okanagan real estate. Over time, more and more columnists started covering the real estate sphere and so it morphed in to a personal colum...

_



24111




Member of BC Press Council


24433