Apple’s Co-Conspirators Outline E-Book Settlement Plan
The results of the U.S. Department of Justice’s antitrust e-book lawsuit have started to trickle down to consumers. Macmillan and Penguin, two of the five publishers that were found liable in Apple’s (NASDAQ:AAPL) price-fixing conspiracy, have established a site that outlines the various payments that claimants may receive as a result of the settlement with the government, reports Apple Insider.
The site describes a “plan of distribution” proposed by the Justice Department that would combine the $93.21 million obtained from Macmillan and Penguin with the $69.04 million from the previous settlement with the other publishers. CBS’s (NYSE:CBS) Simon & Schuster; Hachette Book Group, Inc.; and News Corp.’s (NASDAQ:NWSA) HarperCollins are the other three publishers.
According to the “State Attorneys General and Class Counsel E-book Settlements” site, consumers who purchased New York Times bestsellers may receive a payout of $3.06 per e-book, while any standard e-book purchases will be worth $0.73. This settlement would cover any e-books that users bought through Apple’s iBookStore during the period from April 1, 2010 to May 21, 2012. In the trial, Apple was accused of coordinating an e-book price increase in order to better compete with Amazon (NASDAQ:AMZN).