Google Settles Online Book Lawsuit

SAN FRANCISCO - Google(GOOG Quote) has settled a three-year class action lawsuit with authors and publishers, paving the way for more books to be available online.

The Internet giant agreed to pay $125 million to cover legal fees incurred by the lawsuit as well as to set up the Book Rights Registry, a not-for-profit that will work with authors, publishers and other rightsholders to ensure they receive any money owed to them for their works under the agreement.

The settlement is subject to approval by the U.S. District Court for the Southern District of New York. ...