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Virginia Announces Settlement With Publisher Over E-Book Pricing Lawsuit

Buyers of electronic books in Virginia will receive $680,000 under a nationwide settlement with Macmillan

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    Buyers of electronic books in Virginia will receive $680,000 under a nationwide settlement with a major book publisher over allegations of price fixing.

    Attorney General Ken Cuccinelli says Virginia's share is part of a $20 million antitrust settlement with 32 attorneys general for the other states, districts and territories.

    The proposed agreement is with Holtzbrinck Publishers LLC, doing business as Macmillan. It must be approved by the U.S. District Court in New York.

    In August, the attorney general's office secured an additional $2.3 million for Virginia consumers from three other electronic book publishers.

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    TechRadar.com reports:

    Three of the publishers immediately settled with the [Department of Justice] when the suit was filed in April 2012, but Penguin, Macmillan and Apple had vowed to fight the allegations in court.

    Penguin caved in and settled in December and now Macmillan has also yielded, claiming the cost of losing the case could have put it out of business.