Ever wonder why an E-book purchased on the Apple iTunes store sometimes cost more than a regular book?
So did Texas Attorney General Greg Abbott, and today he announced the settlement of a lawsuit against Apple and five publishing houses for conspiring to fix the price of E-books.
Texas E-Book readers will receive an account credit or a check based on the number of eligible E-Books they purchased between April 1 2010 and May 21, 2012. The total amount to be distributed to Texans is $12.7 million, based on the number of books purchased by Texans as part of the total $166 million set aside for consumers.
Following a three week trial last summer, a federal judge in New York City found that Apple played a 'central role in facilitating and executing' a conspiracy to eliminate retails price competition in order to raise E-book prices, in violation of federal and state antitrust laws.
A second trial on the damages is set for later this year, and it could result in more refunds to Texas customers.
The publishers involved include:
Hachette Book Group
Simon & Schuster
The $12.7 million is available strictly for consumers, after attorneys have been paid.