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Saturday, 1 September 2012

$69 million settlement in price fixing case

$69 million is the sum paid to the US DOJ by the three publishing houses who have settled in the price fixing case.

Cnet reported that earlier this week Connecticut State Attorney General George Jepsen yesterday announced that he, "along with 54 attorneys general in other states, districts, and U.S. territories," have signed a $69 million deal with Hachette Book Group, HarperCollins Publishers, and Simon & Schuster (which is owned by CBS, ) to settle antitrust claims over an alleged conspiracy to artificially inflate e-book prices.

Apple, which has also been cited in the federal government's investigation into the matter, did not settle with the attorneys general. Macmillan and Penguin also declined to settle with the attorneys general.

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