Penguin Settles Price-Fixing Suit On e-Books

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The U.S. Department of Justice (DOJ) announced yesterday Dec. 18 that it has reached a settlement with Penguin Group (USA) in its civil antitrust lawsuit accusing the nation's largest book publishers of colluding with Apple to raise e-book prices, Associated Press (AP) reported.

If approved by a federal judge, the settlement leaves computer giant Apple and Holtzbrinck Publishers (Macmillan) as the only defendants standing against the federal government's charges that Apple conspired with several publishers in the fall of 2009 to force e-book prices several dollars above the $9.99 charged by Amazon.com on its Kindle device.

The Justice Department, which filed the suit in April, settled with Hachette Book Group, HarperCollins Publishers and Simon & Schuster earlier this year. The trial against Apple and Holtzbrinck Publishers is scheduled to begin in June.

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SOURCE: Christian Retailing
Eric Tiansay
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