Tuesday, March 25, 2014

Apple Settlement give Amazon Customer Credit

In a turn of events, Apple gave Amazon (and other retailer) customers a total of $166 million in a settlement due to price-fixing. Apple had worked with five publishers to fix the price of eBook sales which resulted in over charging its customers.

See the articles: GIGAOM and CNN Money

It was stated that,
"Illegal actions by these publishers forced consumers in New York and across the nation to pay artificially inflated prices for e-books," said Attorney General Eric Schneiderman, in a statement.

Amazon is sending its customers emails that said,
"Good news! You are entitled to a credit of $xx.xx for some of your past Kindle book purchases."

This is further proof of the conspiracy of traditional publishers trying to drive prices up to increase their commissions. Do you think that the author of these books had any say in this? Do you think that Apple will ask the authors for money back? I hope not.

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