Houghton Mifflin, Calif. AG Reach Price Cap Deal

Law360, New York (May 19, 2009, 12:00 AM EDT) -- In a deal with the California Attorney General's Office, Houghton Mifflin Harcourt Publishing Co. has agreed to cap increases on the prices of certain textbooks in that state, an arrangement addressing its $4 billion acquisition of Harcourt Education from Reed Elsevier in 2007.

A complaint alleging violations of the Clayton Act and an accompanying consent decree was filed Friday in the U.S. District Court for the Northern District of California naming HMH and its parent company, Education Media & Publishing Group Limited.

The consent decree calls...
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