Penguin settles eBook price-fixing case

By James Barnes

29 May 2013 at 11:32 BST

London-headquartered publisher Penguin is set to pay out $75 million to settle a case in which it was accused of fixing the price of eBooks.

Penguin: publisher marches towards settlement

Connecticut Attorney General George Jepsen confirmed the settlement, adding that the book publisher will pay $75m in consumer restitution and as injunctive relief, reports Techno Buffalo.

Competitive marketplace

Three other publishers accused of being in on the scheme – Hachette Book Group, HarperCollins Publishers and Simon & Schuster - settled last April, while Apple is still contending the allegations and is scheduled to appear in a New York court next week.
‘Consumers are entitled to a fair, open and competitive marketplace,’ commented Attorney General Jepsen. ‘This agreement is yet another step toward providing restitution to those consumers who were harmed by alleged price-fixing within the eBook market and will further ensure that, going forward, consumers benefit from fair competition in the sale of eBooks.’


Also read...

Antitrust's crime and punishment

Global antitrust trends see politicisation and digital economy posing risks as regulators up policing and enforcement.