Under the terms of the proposed settlement, Macmillan would create a settlement fund totaling $20 million from which claims to consumers who purchased e-books would be paid. In addition, the publisher has agreed to lift restrictions on discounting for e-books and will not be allowed to enter into new agreements restricting prices until December 2014.
The settlement must be approved by the court before funds can be distributed.
"This is a big win for consumers and is a testament to the hard work of the Justice Department and state attorneys-general, all of who devoted significant resources to this case," said Berman. "We look forward to presenting the settlement to the court and getting funds distributed to consumers who were wronged by Macmillan's alleged anticompetitive behavior."
You can learn more about this case by visiting www.hbsslaw.com/ebooks.About Hagens Berman Seattle-based Hagens Berman Sobol Shapiro LLP represents consumers, whistleblowers, investors, workers and others in complex and class-action litigation. The firm has offices in ten cities and has been named to the National Law Journal's Plaintiffs' Hot List five times. Founded in 1993, HBSS continues to successfully fight for consumer rights in large, complex litigation against large corporations. More about the law firm and its successes can be found at www.hbsslaw.com. Visit the firm's class-action law blog at www.classactionlawtoday.com. Contact: Mark Firmani, Firmani + Associates Inc., 206.443.9357 or firstname.lastname@example.org. SOURCE Hagens Berman Sobol Shapiro LLP