While we still await the Judge’s decision on what penalties Apple will be forced to pay for having been found guilty of conspiring to fix e-book prices, the five publishers in the case have already agreed to settle.
Among the publishers, Hachette, HarperCollins, and Simon & Schuster had previously received court approval for their settlement agreements, and Macmillan and Penguin settlements are now proceeding through the approval phase. Customers who purchased Macmillan or Penguin e-books are now receiving emails informing them about the proposed settlement and their rights and responsibilities with respect to the agreement.
Under the terms of the proposal, Macmillan and Penguin’s settlement funds would be thrown in the pot with amounts already committed by the other publishers, giving a total of $162.25 Million to be paid out to buyers of e-books from the iBookstore who purchased between the dates of April 1, 2010, (the iBookstore’s launch date), and May 21, 2012.
While the exact amount of reimbursement each customer will receive depends on how many end up being included in the program, estimates suggest that customers could receive $3.06 for each purchase of an e-book that appeared on the New York Times bestseller list at any point, and $0.73 per non-bestseller.
Minnesota residents will receive a higher amount per book, as they were not included in the first round of settlements.
As for how the reimbursements will take place, Amazon customers will receive automatic credits to their accounts, while Apple, Barnes & Noble, and Kobo will have to activate their account credits, or request their settlement via check. Consumers have until October 21st to exclude themselves from the proposed settlement. A December 6th hearing will be held to consider approval of the settlement.
