A PYMNTS Company

US: Penguin makes $75M offer in class action e-books case

By  |  May 22, 2013

E-books publisher Penguin has reportedly made a settlement offer for $75 million to consumer rights law firm Hagens Berman Sobol Shapiro. If approved by the court, the settlement will resolve allegations that Penguin, along with other publishers, fixed e-book prices. Hagens Berman described this case as “unprecedented” considering the cooperation between federal, state and private antitrust enforcement. Penguin settled with the US Department of Justice last year over similar price-fixing claims. Under terms of that agreement, Penguin agreed to stop its business practices deemed anticompetitive for two years. The class action was first tiled in August 2011.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Fort Mill Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.