Apple to Start Issuing Cheques and Credits to Customers As Part of E-Book Price Fixing Settlement
Apple will start sending out credits and cheques to consumers affected by the e-book price fixing scheme it was found guilty of being part of three years ago. This means customers will receive a $6.93 credit for every e-book that was a New York Times bestseller and a $1.57 credit for other e-books, class-action law firm Hagens Berman has announced.
The aforementioned credits will be sent directly to the accounts of consumers at major book retailers such as Amazon, Barnes & Noble Inc., Kobo Inc., and Apple, who will credit the accounts simultaneously, while notifying customers. E-book customers who have requested a cheque instead of credit, will receive a cheque, the press release reads.
You may recall that Apple was found guilty of illegally colluding with a group of five publishing companies to manipulate the e-book market by artificially raising the price of e-books. After the Supreme Court denied Apple’s appeal for its role in the price fixing scheme, the company ultimately agreed to pay $400 million to settle the class-action lawsuit. With Apple’s $400 million, the total amount Hagens Berman has managed to squeeze from the involved parties has now reached more than $560 million.