Credits for E-Book price fixing should reach buyers this week

Apple and around five other publishers have spent the last few years in court under accusations of trying to fix the price of e-books. It’s a cut through market out there, and it seems that Cupertino in particular wanted to ensure that its profit margins were strong enough, by getting competitors to not break the bank at a lower price. If you’ve bought e-books over the last few years, there might be some cash for you.

Users who purchased E-books between April 1, 2010 and May 21, 2012 are entitled to $6.93 in the case of New York Times best sellers, and $1.57 in the case of ebooks that didn’t make the list. The statement mentions that:

“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 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 settlement is for a crazy $450 million, making us love when government authorities do work.

Source: Businesswire
Via: MacRumors

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Jaime Rivera
Jaime has been a fan of technology since he got his first computer when he was 12, and has followed the evolution of mobile technology from the PDA to everything we see today. As our Multimedia Manger, he’s been in-charge of growing our YouTube hobby into one of the biggest video channels in the industry. When he’s not building one of our videos, or filming our Pocketnow Daily, he can be found in his second biggest passion, which is running and fitness. Read more about Jaime Rivera!