Two of the five publishers accused of conspiring with Apple to inflate e-book prices, Macmillan and Penguin, have started issuing emails to e-book customers, informing them of rights, responsibilities, and proposed terms in the legal settlement the companies negotiated. Under current terms, the publishers would distribute approximately $162.25 million to customers who bought e-books at any digital outlet between the iBookstore’s launch on April 1st, 2010 and May 21st, 2012.
Shoppers participating in the settlement would get $3.06 per book that has ever appeared on the New York Times’ bestseller list, but just $0.73 for each non-bestseller. A special exception would be made for residents of Minnesota, who would get a higher amount because they weren’t included in an initial round of settlements.
People who bought books through Amazon would get an automatic account credit, while Apple, Kobo, and Barnes & Noble shoppers would have to manually authorize credit, or alternately ask for reimbursement via check. E-book buyers have until October 21st to object to the settlement or exclude themselves from it; a December 6th hearing will decide if the terms are approved.
Hachette, HarperCollins, and Simon & Schuster have already gained court approval for their own settlement agreements.
