UTAHNS TO BENEFIT FROM E-BOOK PRICE FIXING SETTLEMENT WITH PENGUIN
Utah Attorney General John Swallow today announced the resolution of a multistate antitrust lawsuit against Penguin Group for price-fixing and collusion in the electronic book (E-book) market. Utah consumers will get about $1.5 million from the $164 million total from nationwide settlements with five major book publishers.
“Our antitrust attorneys are vigilantly fighting to protect consumers from price-fixing schemes,” says Attorney General Swallow. “This latest settlement benefits E-book readers who bought in the past and also means lower prices for anyone buying E-books in the future.”Utah reached an agreement with Penguin to settle allegations that the book publisher colluded with other major publishers and Apple to manipulate prices in the E-book market. The agreement with Penguin must be approved by the U.S. District Court for the Southern District of New York.
When finalized, the agreement with Penguin will grant E-book outlets greater freedom to reduce the prices of their E-book titles. Consumers nationwide—including those represented by the attorneys general of the 33 states and territories and those represented by private counsel in a related class action—will receive $75 million in compensation from Penguin.