We often share articles related to eBooks, including new ways to download and read them, how to publish your own eBook and where you can find hundreds of free titles to read. That's because eBooks are all the rage these days. And here's the good news: if you're an eBook lover, you could be entitled to some money from a settlement payout.
If you purchased an eBook between April 1, 2010 and May 21, 2012, check your email. Apple and Amazon may be giving you back credits.
On Tuesday, Apple began rolling out payments as part of a $400 million settlement for a class action, antitrust lawsuit filed against them. The electronics giant is accused of conspiring with five major book publishers to raise the prices of eBooks from 2010 to 2012 in an attempt to grab business from other book retailers.
According to the attorneys, Apple - together with publishers Penguin, Macmillan, Simon & Shuster, HarperCollins, and Hachette - forced the price of eBooks to increase up to 50 percent. Amazon's regular eBook price at the time was $9.99, and the alleged price-fixing raised all eBook prices up to $14.99 during that period.
While Apple is not admitting to the charges, the Supreme Court denied their appeal for review, leading to commencement of Apple's $400 million settlement payout. The publishers already settled before the trial for a combined $166 million, which brings the total of the settlement payouts of this case to $566 million.
Qualified consumers will receive a $6.93 credit for each New York Times bestseller and $1.57 for other eBooks from these publishers.
According to Amazon's information page about this case, eligible customers do not need to do anything to receive these credits. If you are eligible, they are already added to your Amazon account automatically and they will be applied to any qualifying items. The credits will expire on June 24, 2017.
Aside from Amazon, other eBook retailers issuing credits include Apple's own iBooks store, Barnes & Noble, Kobo and Sony. As long as you purchased an eBook from these publishers during the time period, you may be qualified for the payout as well, so check your email for credits from these retailers too.