Penguin To Pay $75M To Settle States' E-Book Antitrust Claims

Law360, New York (May 22, 2013, 2:41 PM EDT) -- Pearson PLC's Penguin Group USA Inc. has agreed to pay $75 million to resolve allegations, lodged by state attorneys general and a proposed consumer class, that it conspired with other publishers and Apple Inc. to fix e-book prices, Pearson said Wednesday.

The settlement, which is subject to court approval, would resolve the states' and private consumers' claims that Penguin took part in a scheme alongside Apple and four other major publishers to fix prices on e-books, in part by agreeing to switch from a wholesale model...
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