US: Apple now paying out $400M to customers in ebook price-fixing settlement

Three years ago, Apple was found guilty of anticompetitive behavior centered around ebook pricing and price-fixing. The case was in limbo for years as Apple appealed and tried to fight the ruling, but earlier this year the Supreme Court declined to hear the company’s appeal, putting Apple on the hook for $450 million. Law firm Hagens Berman today issued a press release revealing that payouts will begin being sent to affected customers June 21st.

According to the firm, $400 million will be handed out to customers who purchased books from Amazon, Kobo, Barnes & Noble, and Apple. Payments will either be sent direct to customer iTunes accounts or a check will be mailed, depending on how the customer responded to an earlier survey.

Customers will receive $6.93 for every ebook that was a New York Times bestseller and $1.57 for every other ebook. Qualifying ebooks must have been purchased between April 1, 2010 and May 21, 2012 and be from one of the following pubslihers: Hachette Book Group, HarperCollins Publishers, Macmillan (Holtzbrinck Publishers), Penguin Group and Simon & Schuster.

As for the other $40 million, Apple will pay $20 million to the states and $30 million in legal fees.

Apple was first hit with the antitrust lawsuit because of tis “agency model” of ebook pricing and accusations that it was working with publishers to artificially raise the prices of ebooks.

Full Content: CNET

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