Reuters: Regulatory News: UPDATE 1-Pearson agrees $75 mln settlement in U.S. e-books case

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Pearson agrees $75 mln settlement in U.S. e-books case May 22nd 2013, 14:12 Wed May 22, 2013 10:12am EDT LONDON May 22 (Reuters) - Pearson's Penguin said on Wednesday it would pay $75 million in damages plus costs and fees as part of an agreement with the United States over alleged price-fixing in the e-book market. Pearson, which will take an extra provision on its accounts this year after setting aside $40 million in 2012, had already reached an agreement with the U.S. Justice Department in the e-book pricing case. The latest deal settles the case with individual states in the country. The Justice Department last year accused Apple and five publishers of illegally colluding on prices as part of an effort to fight online retailer Amazon.com Inc's dominance of the e-book market. Penguin said it had also committed to the state attorneys to abide by the terms agreed in the settlement with the Department of Justice. Pearson has previously said that it did not believe it had done anything wrong with its e-book pricing, but that it had agreed to settle so that it could move ahead with the merger of Penguin with Random House, which it announced last October.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions