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Federal judge approves settlement offer in ebook price fixing case

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The settlement offer by three of the five publishers accused of price fixing e-books has been approved by a federal judge.

kindle ibooks
kindle ibooks

According to Bloomberg, a federal judge has approved a settlement offer by publishers in the civil case brought against them by the US for alleged price fixing of ebooks. The offer involves three of the five publishers that were initially targeted by the Justice Department. Harper Collins, Simon & Schuster, and Hachette all elected to settle, while MacMillan and Penguin, along with Apple, have yet to put forth a settlement offer.

The financial terms of the settlement, which was originally offered back in April, have not been released, though the judge said that the settlement was in the public interest. According to the original announcement of the settlement, the publishers are expected to end their "anticompetitive most-favored-nation agreements with Apple and other ebook retailers." Litigation against Apple and the remaining two publishers by the US is expected to continue unless a settlement is reach with them as well.