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