Markets News in Brief

Settlement is Reached in E-Book-Price Case

By Sean Cavanagh — June 04, 2013 1 min read
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A division of Pearson, the worldwide publisher of education products and other materials, has agreed to pay $75 million as part of a settlement of a lawsuit in which a group of companies was accused of fixing the price of e-books.

The lawsuit had alleged that Penguin, whose parent company is Pearson, and other publishers had conspired with Apple Inc. to limit competition and fix the retail price of e-books, as a way to combat Amazon’s influence over the market through the Kindle, including its ability to offer discounted prices.

Pearson officials described the settlement in a statement as part of a “comprehensive agreement” with the attorneys general from several states and plaintiffs in a private class action. Pearson officials said they committed to the same terms as part of a previous settlement over related allegations with the U.S. Department of Justice.

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A version of this article appeared in the June 05, 2013 edition of Education Week as Settlement is Reached in E-Book-Price Case

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