MO reaches settlement with publisher

Missouri is among 33 states to reach a settlement with U.S. publisher Penguin Group Inc. following claims the company engaged in price fixing and collusion in the electronic book market.

The agreement settles claims that Penguin Group worked with other publishers and Apple Inc. to manipulate e-book prices. Missouri's antritrust suit against Apple is pending with a trial scheduled in June, according to a news release.

As part of the settlement with Penguin Group, consumers nationwide are slated to receive $75 million in compensation.

Missouri previously reached settlements with Hachette Book Group Inc., HarperCollins Publishers LLC, Simon & Schuster Inc. and Holtzbrinck Publishers LLC, dba Macmillan. Including Penguin Group, consumers will receive $164 million in compensation from the five publishers, the release said.

“Our legal action sends a strong message that companies cannot get away with price fixing,” Missouri Attorney General Chris Koster said in the release. “These publishers’ behavior cost consumers millions of dollars, but the settlements we have reached will lead to compensation for those consumers.”[[In-content Ad]]