The US Department of Justice (DoJ) has finally settled price fixing case of e-books with three book publishers. The settlement has been approved by a US judge.
On Thursday, US District Court Judge of Southern District, New York, Denise Cote approved the settlement between DoJ and the Hachette Book Group, Harper Collins and Simon & Schuster.
It was in April when DoJ filed a lawsuit against Apple and the book publishers, which included the above three mentioned one and also Macmillan and Penguin.
DoJ blamed the publishers of maintaining the prices of electronic books high. US Attorney General Eric Holder asserted that they had concurred to close the online sales. Further, Holder affirmed that they had decided to allegedly increase the price following the response of Amazon. com, which was selling the ebooks at a price of $9.99 at the end of year 2007.
Cote, after hearing of the case asserted that the explanation made in regards of the settlement were comprehensive and overpoweringly negative. However, justification made related the price fixing.
"The proposed final judgment appears reasonably calculated to restore retail price competition to the market for trade e-books, to return prices to their competitive level, and to benefit e-books consumers", Cote wrote.
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