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Publishers to Pay $69M in eBook Pricing Settlement

55 attorney generals from different states, districts and U.S. territories have reached an agreement with HarperCollins, Hachette and Simon & Schuster in the ongoing litigation over eBook pricing.

According to the terms of the deal, consumers who bought an eBook from any of the “Agency Five” publishers during April 1, 2010 until May 21, 2012 will receive compensation.

Hachette, HarperCollins and Simon & Schuster will pay consumers who purchased eBooks from any of the five agencies accused of price fixing, including Macmillan and Penguin, who have yet to settle. Payments will begin 30 days after the settlement gets its final court approval.

Attorney generals across the nation released press releases explaining these terms. In Connecticut attorney general George Jepsen’s release, he stated his concern, “While publishers are entitled to their profits, consumers are equally entitled to a fair and open marketplace. This settlement will provide restitution to those customers who were harmed by this price-fixing scheme, but it also will restore competition in the eBook market for consumers’ long-term benefit.” (Via The Associated Press).

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Thursday May 23: Real Talk about Life after Publication

These days, writers aren’t just writers: They’re social-media mavens, seasoned public speakers, and one-person publicity machines. And they still have to find time to write their books! Find out what life is like once you've landed that dream book contract in a free web chat with young-adult authors Elizabeth Norris (Unraveling and Unbreakable) and Brodi Ashton (Everneath and Everbound) — plus special guest Kristin Rens, editor at HarperCollins imprint Balzer + Bray. Thursday, May 23 at 7:00 p.m. ET. on Figment.com.