Penguin will pay $75 million in damages and “costs and fees to resolve all antitrust claims relating to eBook pricing”–settling with 33 state attorneys general and consumers in a suit led by Hagens Berman Sobol Shapiro.
The suit revolved around allegations of price fixing with the agency model for eBook pricing. The publisher issued a brief statement:
Penguin has also committed to the State Attorneys General to abide by the same injunctive relief as previously agreed in a separate settlement with the Department of Justice. In anticipation of reaching this agreement, Pearson had made a $40m provision for settlement in its 2012 accounts. An incremental charge will be expensed in Pearson’s 2013 statutory accounts as part of the accounting for the Penguin Random House joint-venture.