logo

  • Home
  • News Departments
    • Education
    • Environment & Natural Resources
    • Health Care
    • Tax & Budget
    • Transparency & Open Records
    • Press Releases
  • NewsTracker Blog
  • Video
  • Tenn10 Club Charter Members
  • MISSION
  • Contact Us
  • Home
  • News Departments
    • Education
    • Environment & Natural Resources
    • Health Care
    • Tax & Budget
    • Transparency & Open Records
    • Press Releases
  • NewsTracker Blog
  • Video
  • Tenn10 Club Charter Members
  • MISSION
  • Contact Us


TN AG Announces Settlement Proposal from Apple in E-books Price-fixing Case

0
17 Jul 2014
Apple, Attorney General, E-book, robert cooper, tennessee
by TN Press Release Center

Press release from Tennessee Attorney General Robert Cooper; July 16, 2014:

Tennessee Attorney General Bob Cooper today announced a proposed settlement of claims for monetary relief against Apple Inc. related to its participation in a price-fixing conspiracy in the market for E-books. The settlement agreement, which remains subject to approval by the U.S. District Court for the Southern District of New York, would resolve claims for consumer damages brought by Tennessee and 32 other states and territories.

Pursuant to the terms of the settlement, the amount to be received by consumers is contingent upon the resolution of Apple’s appeal of the District Court’s July 2013 finding that Apple violated the antitrust laws by orchestrating a conspiracy with five publishers to artificially raise prices for E-books between 2010 and 2012. That appeal is currently pending before the United States Court of Appeals for the Second Circuit. Consumers nationwide (including those represented by private counsel in a related class action) will receive $400 million if the court’s ruling is ultimately affirmed. If the appellate courts do not affirm the court’s ruling, the settlement provides for a smaller recovery, or no recovery if Apple is ultimately determined not to have violated the antitrust laws.

Attorney General Cooper said he is pleased with this settlement, which, combined with previous publisher settlements, will provide consumers with over twice their actual damages, assuming the liability finding is upheld on appeal. Tennessee consumers comprise approximately 1.7 % percent of E-book purchasers in the country.

E-book purchasers nationwide have already received compensation from $166 million in settlement funds paid by the five publishers involved in the conspiracy – Penguin Group (USA), Inc. (now part of Penguin Random House); Holtzbrinck Publishers LLC d/b/a Macmillan; Hachette Book Group Inc.; HarperCollins Publishers LLC; and Simon & Schuster Inc.

About the Author
Social Share

Search the Archive


Press Release Center

  • TNGOP’s Haynes: TN a ‘Republican Model for Success’
  • Republicans Want Legislative Probe of UT Diversity Office
  • Year-to-Date State Budget Surplus Nearly $375M
  • Two Law Enforcement Officers Indicted for Stealing From Nonprofit Association
  • Senator Wants State Insurance Commissioner to Justify ‘Double-Digit Increases’ to Health Premiums

NewsTracker

  • Bulk of Record-Setting Year from Comptroller’s Fraud Hotline Involved Just Two Cases
  • House GOP Caucus Meeting Planned to Discuss ‘Leadership Position of Majority Whip’
  • Haslam Defends UT Chancellor Amid Latest Diversity Office Controversy
  • Executive Budget Hearings Planned This Week
  • Haslam Exits RGA Chairmanship Post


Copyright © TNReport News Services, Inc. 2009 - 2012. All rights reserved. Developed by The Liberty Lab, Inc.