How To Get Paid From The 400 Million E-Book Price-Fixing Antitrust Class Action

Posted: Jun 21 2016, 1:17am CDT | by , in Latest Business News


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How to Get Paid from the 400 Million e-Book Price-Fixing Antitrust Class Action
Get paid in ebook settlement

Starting today, June 21, you can get money from Apple, Amazon and others if you have purchased e-books.

Class Action law firm Hagens Berman has announced that the $400 Million e-Book Price-Fixing Antitrust Class Action settlement gets paid out starting today, June 21.

Millions of e-book purchasers will receive credits and checks for twice their losses in the antitrust lawsuit filed against the Nations's largest book sellers for their roles in an alleged e-book price-fixing scheme, according to Hagens Berman.

You can get $6.93 credit for every e-book which was a New York Times bestseller, and a $1.57 credit for other e-books from Apple and others.

The credits will be automatically sent directly into the accounts of your account at major book retailers, including Inc., Barnes & Noble Inc., Kobo Inc. and Apple. Retailers will issue emails and put the credits in the accounts simultaneously.

If you prefer a check in lieu of a credit, you will receive a check from the retailer. If you received a credit during the first round of distribution of publisher settlements, and you did not opt out, you will automatically receive a credit.

The combined $400 million that will go to consumers follows the final stage in the lawsuit in which the Supreme Court denied appeal from Apple, bringing the consumer payback amount to more than twice the amount of losses suffered by the class of e-book purchasers. This represents one of the most successful recovery of damages in any antitrust lawsuit in the country.

“To make this settlement effective and accessible for consumers, our team faced a sizable undertaking that entailed almost constant contact with the retailers to make sure the credits will be applied to consumer accounts across the country,” said Steve Berman, managing partner of Hagens Berman. “This is the second round of distribution in the case, and we believe the only case in the country to have so much money returned directly to consumers.”

Attorneys calculated damages based on the books purchased and worked cooperatively with retailers to calculate the award for each class member.

The class of consumers alleged that Apple illegally colluded with a group of five publishing companies to manipulate the e-book market by artificially raising the price of e-books, lowering competition and charging consumers higher prices.

According to attorneys, the anticompetitive price-fixing collusion between Apple and the publishers caused the price of e-books to increase 30 to 50 percent to $12.99 or $14.99 from Amazon's $9.99 price.

Hagens Berman litigated the case jointly with the United States Department of Justice and attorneys general from 33 U.S. states and territories.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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