In March, Apple agreed to pony up $450 million to settle a 2012 class-action lawsuit that claimed that Apple conspired with a handful of book publishers to bump up the price of electronic books. Now $400 million of the settlement money is being used to issue refunds to affected consumers.
I just received $38.06 from Apple as a part of the settlement. My refund is available as a credit on Amazon and expires on June 24, 2017. My husband received notification today that he is getting a whopping $114.56 as part of the Apple eBooks Antitrust Settlement. Both my husband and I were notified by email of the credits we received.
If you purchased an e-book from one of the publishers involved in the alleged price-fixing between April 1, 2010, and May 21, 2012, chances are good that a refund will reach you soon. The affected book publishers include Hachette, HarperCollins, Macmillan, Penguin Group USA, and Simon & Schuster, Consumerist reports.
While most books are credited at $1.57, according to Consumerist, books that were on the New York Times best-seller list are credited at $6.93.
This is the final chapter in a nearly four-year legal battle over Apple’s role in the alleged price-fixing scheme.
For more information on the refunds and the Apple lawsuit, including (if you did not receive an email) how to find out if you’re owed a refund, click here.
Do you think the settlement is enough to deter future price-fixing? Did you receive a refund? Sound off below or on our Facebook page.
Find the right financial adviser
Finding a financial adviser you can trust doesn't have to be hard. A great place to start is with SmartAsset's free financial adviser matching tool, which connects you with up to three qualified financial advisers in five minutes. Each adviser is vetted by SmartAsset and is legally required to act in your best interests.
If you're ready to be matched with local advisers who will help you reach your financial goals, get started now.