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.
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.
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.
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.
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.
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.
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