Michigan Consumers to Receive Compensation from Settlement in E-Books Price-Fixing Lawsuit
Michigan Attorney General Bill Schuette announced today that Michigan consumers will receive compensation from a settlement in a antitrust case against a major U.S. book publisher for price fixing and collusion in the electronic (e-book) market.
Michigan has reached an agreement with Penguin Group (USA) to settle allegations that Penguin illegally conspired with other major publishers and Apple Inc. to increase the retail price of e-books.
Michigan consumers will receive $4.3 million of $164 million in customer restitution that has been recovered for consumers nationwide.
In a statement Schuette said "any company engaging in price fixing not only throws a wrench in the free market at the expense of consumers, it also violates the good faith of citizens across the state."
Consumers who had purchased an e-book with an artificially inflated price from one of the publishers should have already received notice from the retailer.