Beginning June 21, 2016, millions of e-book purchasers will receive credits and checks for twice their losses following an antitrust lawsuit filed against Apple Inc. and five of the nation’s largest publishing companies for their roles in an alleged e-book price-fixing scheme, according to Hagens Berman, a consumer-rights class-action law firm.
Attorneys say the process is uniquely simple for consumers – credits will be automatically sent directly into the accounts of consumers at major book retailers, including Amazon.com Inc., Barnes & Noble Inc., Kobo Inc. and Apple. Retailers will issue emails and put the credits in the accounts simultaneously.
If e-book purchasers requested a check in lieu of a credit, they will receive a check. If purchasers received a credit during the first round of distribution of publisher settlements, and they did not opt out, they 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.
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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