Refunds for e-Book Buyers

Apple and scales

Price Fixing

Recently it has been reported that the Electronics giant Apple have been made to cough up refunds to people who have bought e-books because of a settlement for price-fixing.

An Attorney General named Mark R. Herring from Virginia had accordingly started to give out between $11 and $15 million from account credits and checks to state residents who have bought either electronic books or e-books via the company’s site.

Mr. Herring had announced that the consumers from Virginia will be compensated finally for the anti-competitive and anti-consumer business practices.

Settlement Figure

The $400 million settlement from Apple will be money that Virginians will receive as a result of a Federal court case which took place in 2013 where the company was found guilty with five publishers of price-fixing.

Between 1st April 2010 and the 21st May 2012, consumers who purchased e-books were buying ones that were overpriced and therefore they will be refunded.

A refund of $6.93 per book will be paid to the Consumers who had bought best-sellers from the New York Times. It was stated by Mr. Herring that while the refund will be $1.57 per book during the 25-month period for ones that did not make the New York Times list.

images (4)It was also stated by Mr. Herring while there was an appeal over the price-fixing verdict by the company the refunds would remain on hold. The U.S. Supreme Court had declined to review the case in March which meant that the verdict and company’s liability for the refunds became effective.

Virginians Receive Refunds

Five publishers which included Simon & Schuster Inc and the Penguin Group had settled for $166 million previously which about $4 million of it went to e-book buyers in Virginia.

In March 2014, a lot of the money that came from the settlement for the publishers was given to the customers who had purchased the e-books from Amazon, Kobo, Google, Barnes & Noble and Sony plus those who had used Apple. Mr. Herring also stated that there is some money remaining which is continuing to be distributed to consumers.

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Mr. Herring also went on to state that the total payout of $566 million as well as the money from Apple and the publishers, is around twice the size of the damages that the consumers have actually suffered.

Virginia was one of the 33 states that had joined in with the suing of Apple as well as the five publishers involved in the price-fixing case.

Questions About The Lawsuit

Any Consumers who have questions regarding the lawsuit and the settlement can go to www.ebooklawsuits.com or they can call (866) 686-98333.

Conclusion

Reading about this has made wary about ordering e-books for my kindle. I used to think that it was a cheaper way to order books but I will definitely make sure that I am getting the best deal when ordering them now.

I think it is terrible that companies that a big like Apple or Amazon could decide to fix the prices of e-books and that they would get away with doing it.

If you think you may have been caught out by the price fixing and are not sure, please contact the number that is above as I wouldn’t like to see anyone else not getting the refund they deserve.

If you have any comments or feedback on this article, please leave them in the comment section at the bottom or contact me at WealthyAffiliate.com, (link to my profile).

Cheryl

 

 

6 comments

  1. Cheryl

    How in heavens name do they decide it is price fixing. That is a quandary for me. You are right to start looking around. Even though you buy eBooks go check out the paperbacks. That will give you some idea of the maximum price and any eBook price should be lower.

    I never had the overprice issue but I did buy an eBook from Kobo. We couldn’t read it because although the font was OK on the eReader the images don’t change size. We needed a magnifying glass to view them.

    Kobo refunded the money immediately by putting it back into our account for use on future books. Funnily enough they left it in our library so we can still read it on the PC!

    Cheers
    Helen

    1. Thanks, Helen, not sure at all how they found out that they were price-fixing but the fact it went to court and all they people were due refunds must mean something. I have never had any problem but have mostly got my e-books from Amazon and have always found they were cheaper. I think it was only in the US, apparently, there were 33 States involved in it.

  2. Thanks for this, I’ve always been a bit worried about this stuff and it looks like I was right.
    Will continue to live without this stuff.

    thanks

    carl

  3. Ebooks have definitely come a long way recently and kindle is one of the most popular formats .I’m sure there are good deals for buyers and also offered refunds if book not suitable..I myself have published a ebook for kindle format and it is not an easy business to get into. your site should get a lot of customers as this is a good niche to ne in.

    1. Thanks very much for your comment Andrew and the Kindle has definitely come on leaps and bounds. I was surprised to see that price fixing had taken place and was pleased to see that people were getting a refund. I hope you enjoy your eBook Andrew.

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