The 2012 antitrust case against the Apple and five major book publishers which include HarperCollins, Simon and Schuster, Hachette Book Group, Macmillan, and Penguin is settled three months back by the US Department of Justice. As per the $450 million settlement, the tech giant has started paying off the US customers who purchased e-books from Apple and other e-book retailers in between 1st April 2010 and 21st May 2012.
So, now the giant who started paying the credits as a part of the price-fixing settlement will pay all the eligible customers. Customers will receive credits from e-book sellers, or they opt out of receiving credits they will get a check. A credit of $6.93 will be paid to the customers who purchased a book that was a New York Times bestseller and a $1.57 payment for other books. Apple will send an email to the customers regarding the confirmation of funds by June 24.
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“Attorneys say the process is uniquely simple for consumers — credits will be automatically sent directly to the accounts of users 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 buyers requested a check instead of credit, they would receive a check. If consumers received a credit during the first round of distribution of publisher settlements, and they did not opt out, they will automatically receive credit.”
Looking back into the case, the tech giant, Apple in 2010 accused of fixing the prices of e-books- it has worked with other book publishers in raising the prices of e-books to bring down the supremacy of Amazon in the e-book market. The aim of the giant was to restructure the business.
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While all the major publishers who have colluded with Apple settled the case earlier, Apple alone has fought for years. In 2013 the company tried to convince the court with its statement that the company’s actions were in the interest of customers and competition. But after a few series of appeals were unsuccessful, the company was found guilty in the same year.
In March, the Supreme Court finally declined to hear the case, and Apple was left to pay a $450 million settlement. According to Macrumors, $400 million will go for customers, balance $30 million towards legal fees and $20 million for the states who were also involved in the lawsuit.