Publishers Settle Electronic Book Lawsuit
(LAS VEGAS CBS KXNT) Nevada consumers are in line to receive $600,000 in a settlement with three major U.S. publishers over allegations of price-fixing on electronic books.
The judge in the anti-trust case has not yet approved the multi-state settlement with Harper Collins Publishers, Hachette Book Group, and Simon & Schuster, Senior Deputy Attorney Brian Armstrong told KXNT on Thursday. Once the approval comes, retailers will contact eligible customers with checks or offers of credits.
The settlement stems from an alleged illegal agreement by the three publishers and others to require retailers to sell electronic books only at prices set by the publishers, after which they increased the prices on the products, Armstrong said.
The settlement requires the publishers to recind current agreements with electronic book retailers, and grant retailers the future ability to set prices on the books they agree to carry.